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Matrixport: Stablecoin inflows hit a record high, indicating strong demand for cryptocurrencies
2024-11-18 07:28
Odaily News Matrixport released today's chart saying that the strongest bullish signal currently comes from the 7-day stablecoin minting indicator, which measures the scale of fiat money flowing into stablecoins over a 7-day rolling cycle. Compared with the previous cycle, this indicator has almost doubled, showing that the market demand for cryptocurrencies is extremely strong, and a large amount of new capital is pouring into the market. While prices may rise sharply with minimal selling pressure, the stablecoin minting indicator further indicates that a large amount of new funds are flowing into the market. From historical data, the strongest inflows were in the first quarter, suggesting that larger-scale allocation inflows may take several weeks, further enhancing the continued upward potential of prices.