Analysis: The growth in stablecoin supply suggests that the Bitcoin bull market cycle may not be over yet
IntoTheBlock posted on the X platform, stating that stablecoin data indicates that the crypto market has not yet peaked. Historically, the peak of stablecoin supply coincides with cyclical highs. In April 2022, the supply reached $187 billion - right at the start of a bear market. Now it has reached $219 billion and is still rising, suggesting we may still be in mid-cycle.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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