One metric that underscores this behavior is the balance of Ethereum-based stablecoins on exchanges. The amount of stablecoins on exchanges declined steadily heading into the election as investors took a “wait-and-see approach”, Shuttleworth said. Then, following Nov. 5 election, stablecoin balances jumped to a yearly high of $41 billion from around $36 billion in early November, Nansen on-chain data shows, as investors deposited stablecoins pent-up demand for crypto assets
Source link
Krisztian Sandor
https://www.coindesk.com/markets/2024/11/12/stablecoin-supply-expands-by-5b-since-us-election-as-investors-pile-into-crypto/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
2024-11-12 19:16:23
