Definition
The Stablecoin Supply Ratio (SSR) is the ratio between Bitcoin supply and the supply of stablecoins denoted in BTC, or: Bitcoin Market cap / Stablecoin Market cap.
We use 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.
Quick Take
- CryptoSlate reported that less than $30 billion of stablecoins now sit on exchanges — a drawdown of $15 billion in the past four months.
- The SSR confirms that stablecoins are moving into Bitcoin and are approaching four-year highs — showing a severe change rate.
- I also tweeted about this on March 17, showing the outflows from stablecoins entering into Bitcoin.
- This tells us in the crypto ecosystem, Bitcoin is the most risk-off asset out there — which is also why alt coins are performing poorly against Bitcoin.
The post Stablecoins being converted into Bitcoin approach a four-year high appeared first on CryptoSlate.
