Data provided by the analytics aggregator Glassnode demonstrates that the Stablecoin Supply Ratio (SSR) of Bitcoin has plummeted to an ATL of 6.525.
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Bitcoin SSR is the index that is about the ratio between the current supply of the biggest crypto in circulation and the number of stablecoins denoted in the flagship coin.
Tue, 05/25/2021 - 10:25
Bitcoin Stablecoin Supply Ratio Hits Major Low, Here’s What It Means for BTC
Recently, on May 25, U.Today also reported a major drop in the Bitcoin SSR. Back then, the chief investment officer of Moskovski Capital explained this as a potentially positive factor for BTC since as SSR dives deep, the current supply of stablecoins has bigger purchasing power to grab more BTC.
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Thus, these stablecoins are the money that can potentially flow in Bitcoin.
Vladislav Sopov