Crypto Gains Preceded Diverging USDC and USDT Supply Growth
Photo: TokenPost
Weekly gains in non-stablecoin crypto assets were associated with slower next-week USD Coin (USDC) growth and faster Tether (USDT) growth, complicating the use of combined stablecoin supply as a gauge of Bitcoin (BTC) buying demand. A four-year analysis matched weekly changes in non-stablecoin crypto market capitalization against stablecoin supply growth one week later. Prior market changes explained 4.6% of the variation in USDC’s weekly supply growth and 5.3% of USDT’s. The associations were negative for USDC and positive for USDT, so market gains coincided with less USDC growth and more USDT growth the following week.
Source: TokenPost
