Large Investors Boost Stablecoin Holdings as Stablecoin Hits Highest Market Cap Since 2022
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- Large investors accumulated 5.09% of leading stablecoins as stablecoins mark the highest market cap since 2022.
- Whales now hold 55.37% of the total supply, indicating significant institutional participation.
- Stablecoins serve as a refuge from volatility and provide liquidity for future trades, analysts suggest.
Crypto analysis platform Santiment revealed a surge in stablecoin holdings by large investors. Their data shows that wallets containing at least $5 million in cryptocurrency have collectively added 5.09% of the total supply of leading stablecoins like Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) over the past three weeks.
— Santiment (@santimentfeed) April 2, 2024
The supply of #stablecoins appear to have been rapidly accumulated by large wallets over the past 3 weeks. Wallets holding at least $5M in #crypto have added a collective 5.09% of the combined supplies of $USDT, $USDC, $BUSD, $DAI, $TUSD, and $USDP. https://t.co/BIR43pbgNO pic.twitter.com/oCGzD8wqEU
Source: Santiment news
This significant accumulation, exceeding $143 billion (143.02B BTC), marks the highest combined market cap for these stablecoins since 2022. Interesti…
The post Large Investors Boost Stablecoin Holdings as Stablecoin Hits Highest Market Cap Since 2022 appeared first on Coin Edition.
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Coins
$ 63.85K
-0.45%$ 0.99929
0%$ 0.00...361
$ 0.9981
-0.02%Predictions Markets
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