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Here’s What Current BTC Stablecoin Supply Ratio Plunge Can Mean for Bitcoin

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Sat, 06/12/2021 - 09:59
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Yuri Molchan
Bitcoin SSR has hit an all-time low, an expert explains that it might be good for Bitcoin, here’s why
Here’s What Current BTC Stablecoin Supply Ratio Plunge Can Mean for Bitcoin
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Data provided by the analytics aggregator Glassnode demonstrates that the Stablecoin Supply Ratio (SSR) of Bitcoin has plummeted to an ATL of 6.525.

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.

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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.

Thus, these stablecoins are the money that can potentially flow in Bitcoin.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.