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This is not good
First time in 2 years where Stablecoin supply is dropping
Stablecoin supply dropped from $309B to $304B
This matters because stablecoin growth means there is more liquidity in the system for Bitcoin to pump
- USDe supply down ~$7B from peak
- USDT remains at around ATHs
- USDC down $1.5B from peak
I would be more worried if Tether was the driver of this drop, the problem is that it also stopped growing in the past month