The stablecoin supply has increased by 3.5% in the past 30 days

CryptoSlate research and data analyst James Van Straten said that the growth trend of stablecoin supply, which began in the fourth quarter of 2023, has continued into 2024. The total supply of stablecoins in the crypto market has increased by about 3.5% over the past 30 days, while the Stablecoin Supply Ratio (SSR) has decreased from 4.13 at the end of October last year to a range of 0.74, indicating that stablecoins have more purchasing power to buy BTC. In contrast, due to the launch of spot Bitcoin ETFs, the current supply of Bitcoin is showing a dynamic changing trend, and broader institutional liquidity is increasing on-chain transaction volume.