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2021-09-27 19:00:25

Stablecoins Reserve Surges Up Again, Dry Powder For Bitcoin’s Next Big Move?

Data shows stablecoins volume has surged up once again. Past pattern may suggest that this accumulation could be dry powder for Bitcoin’s next big move. Bitcoin Stablecoins Reserve Rises Up Again As pointed out by an analyst in a CryptoQuant post, the stablecoins reserve seems to have risen again back to peak levels. The stablecoins reserve is an indicator that shows the total amount of stablecoins being held on wallets of all exchanges When the value of this indicator moves up, it means investors could be moving out of volatile crypto markets, and into the stable fiat tokens. High values can imply investors are piling up these coins while waiting to find the optimal openings into markets like BTC. Related Reading | Why Bitcoin Bears Might Not Get To Buy New Lows On the other hand, when the metric’s value shows a downtrend, it could mean investors have started to move their funds from stablecoins back into volatile markets. Large volumes moving out to exchanges and into personal wallets will also register as a decrease in the reserve. Now, here is a chart showing the latest trend of the indicator vs the Bitcoin price: Stablecoins reserve has once again hit a peak | Source: CryptoQuant As the above graph shows, the metric has once again shown an uptrend recently as its values reach up near the peak again. Lately the trend this year has been that whenever stablecoins reserve shoots up, it means an accumulat...

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