Quick setting
- Bitcoin’s resurgence this year is due to many factors, but one of the main ones is stablecoins being turned into Bitcoin.
- CryptoSlate analyzed the depletion of stablecoins on exchanges that ended up being converted to BTC.
- The past few days have seen this resurgence begin again, as highlighted by the sharp increase in the stablecoin supply ratio that coincided with the price of Bitcoin above $30,000.
Stablecoins converted to Bitcoin helped push the price to over $30,000 and appeared first on CryptoSlate.