• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Monday, January 30, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

$10bn worth of stablecoins withdrawn from exchanges in the past 6 months

January 19, 2023
in Altcoins
Reading Time: 2 mins read
A A
ShareShareShareShareShare

Definitions

The total amount of coins held on exchange addresses, STBL is a virtual asset that aggregates the data of all ERC20 stablecoins supported on Glassnode — thereby creating a metric that sums up all exchange balances across stablecoins.

Stablecoins included are BUSD, GUSD, HSUD, DAI, USDP, EURS, SAI, sUSD, USDT, and USDC.

Related articles

Twitter moving ahead with payment processing service; crypto integration may come later

January 30, 2023

Sorare, English Premier League enter multi-year NFT deal

January 30, 2023

Quick Take

  • Almost $10B worth of stablecoins have been withdrawn from exchanges in the past six months.
  • 70% of the withdrawals occurred due to selling off in BUSD.
  • Stablecoin balance on exchange was worth, at its peak, almost $45B.
All Stablecoins, balance on exchange: (Source: Glassnode)

Definitions

The Stablecoin Supply Ratio (SSR) is the ratio between Bitcoin (BTC) supply and the supply of stablecoins denoted in BTC, or: BTC Market cap / Stablecoin Market cap.

Glassnode uses the following stablecoins for the supply: USDT, TUSD, USDC, USDP, GUSD, DAI, SAI, and BUSD.

When the SSR is low, the current stablecoin supply has more “buying power” to purchase BTC. It serves as a proxy for the supply/demand mechanics between BTC and USD.

Quick Take

  • SSR, which was at an all-time low in the fourth quarter of 2022.
  • There had been a recent uptick in stablecoin deployment to suggest that this was a reason why Bitcoin went to $21k. 
Image
Stablecoin Supply Ratio: (Source: Glassnode)

The post $10bn worth of stablecoins withdrawn from exchanges in the past 6 months appeared first on CryptoSlate.

Credit: Source link

ShareTweetSendPinShare
Previous Post

WEF Rolls Out ‘Global Collaboration Village’ in Metaverse

Next Post

BREAKING: Crypto giant Genesis might file for bankruptcy – What this means for Bitcoin price and crypto

Related Posts

Twitter moving ahead with payment processing service; crypto integration may come later

January 30, 2023

Twitter Technology Company in North America Twitter, Inc is an American social media company based in San Francisco, California that...

Sorare, English Premier League enter multi-year NFT deal

January 30, 2023

NFT Platform Sorare and the English Premier League have signed a multi-year deal for a license to offer NFTs of...

Polygon surpasses BNB Chain in daily transactions as MATIC pumps 20% over weekend

January 30, 2023

Polygon, the Ethereum scaling solution, has surpassed BNB Chain in the number of daily transactions, according to on-chain data analyzed...

Bitcoin closes 4 consecutive weekly green candles for first time since August 2021

January 30, 2023

Bitcoin closed the week strongly with a fourth consecutive green candle for the first time since August 2021. Four weeks...

Bitcoin loses momentum after failing to break $24,000 resistance

January 30, 2023

The cryptocurrency market cap saw net outflows of around $19 billion over the last 24 hours and currently stands at...

Load More
Next Post

BREAKING: Crypto giant Genesis might file for bankruptcy - What this means for Bitcoin price and crypto

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

AAVE/USD Touches New Daily High at $91.27

January 17, 2023

Polygon Announces Proposed Hardfork Aimed At Improving Chain Performance

January 15, 2023

Yuga Labs and Ryder Ripps lawsuit Takes Unexpected Turn

January 11, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Twitter moving ahead with payment processing service; crypto integration may come later
  • Optimism Price Prediction – Further Upside Potential?
  • Irish Distillers Make Bold Move Into The Metaverse

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$22,767.00-4.28%
  • ethereumEthereum(ETH)$1,557.91-5.29%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.05%
  • usd-coinUSD Coin(USDC)$1.000.12%
  • binancecoinBNB(BNB)$306.02-3.80%
  • rippleXRP(XRP)$0.395443-4.70%
  • binance-usdBinance USD(BUSD)$1.000.16%
  • cardanoCardano(ADA)$0.371120-6.13%
  • dogecoinDogecoin(DOGE)$0.087213-3.31%
  • matic-networkPolygon(MATIC)$1.08-7.58%
  • okbOKB(OKB)$37.26-6.22%
  • solanaSolana(SOL)$23.82-9.51%
  • staked-etherLido Staked Ether(STETH)$1,556.13-5.28%
  • polkadotPolkadot(DOT)$6.15-7.09%
  • shiba-inuShiba Inu(SHIB)$0.000011-5.23%
  • litecoinLitecoin(LTC)$90.40-6.78%
  • avalanche-2Avalanche(AVAX)$20.16-3.53%
  • tronTRON(TRX)$0.062374-2.59%
  • daiDai(DAI)$1.00-0.01%
  • uniswapUniswap(UNI)$6.43-7.33%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,712.00-4.53%
  • cosmosCosmos Hub(ATOM)$13.06-5.84%
  • chainlinkChainlink(LINK)$6.85-7.56%
  • leo-tokenLEO Token(LEO)$3.61-2.09%
  • ToncoinToncoin(TON)$2.27-7.80%
  • moneroMonero(XMR)$175.70-5.61%
  • ethereum-classicEthereum Classic(ETC)$21.26-6.22%
  • AptosAptos(APT)$17.22-4.20%
  • bitcoin-cashBitcoin Cash(BCH)$129.27-5.79%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • stellarStellar(XLM)$0.089531-4.51%
  • apecoinApeCoin(APE)$5.77-6.93%
  • quant-networkQuant(QNT)$139.34-8.66%
  • crypto-com-chainCronos(CRO)$0.077372-6.13%
  • nearNEAR Protocol(NEAR)$2.29-11.31%
  • filecoinFilecoin(FIL)$5.02-9.42%
  • algorandAlgorand(ALGO)$0.239731-8.68%
  • lido-daoLido DAO(LDO)$2.04-10.65%
  • vechainVeChain(VET)$0.023014-6.47%
  • internet-computerInternet Computer(ICP)$5.76-7.87%
  • hedera-hashgraphHedera(HBAR)$0.064064-8.09%
  • decentralandDecentraland(MANA)$0.73-7.66%
  • axie-infinityAxie Infinity(AXS)$10.71-12.06%
  • fantomFantom(FTM)$0.470673-4.45%
  • aaveAave(AAVE)$80.55-8.57%
  • the-sandboxThe Sandbox(SAND)$0.71-9.81%
  • eosEOS(EOS)$1.04-6.08%
  • elrond-erd-2MultiversX(EGLD)$41.96-7.16%
  • fraxFrax(FRAX)$1.000.01%