Quick Take
- Bitcoins’ resurgence this year has been down to many factors, but one of the main ones is that stablecoins are being rotated into Bitcoin.
- CryptoSlate has analyzed the depletion of stablecoins on exchanges that ended up being converted into BTC.
- The past few days have seen this resurgence start again, as highlighted by the sharp increase in the stablecoin supply ratio that coincided with the Bitcoin price above $30,000.
The post Stablecoins being converted into Bitcoin helped push the price over $30k appeared first on CryptoSlate.
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