Definition
The overall quantity of cash held on change addresses.
STBL is a digital asset that aggregates the info of all ERC20 stablecoins supported on Glassnode, thereby making a metric that sums up all change balances throughout stablecoins.
Stablecoins included are: BUSD, GUSD, HSUD, DAI, USDP, EURS, SAI, sUSD, USDT, USDC.
Fast Take
- Lower than $30 billion price of stablecoins now sits on exchanges, the bottom quantity since December 2021.
- Prior to now 4 months, nearly $15 billion price of stablecoins has been withdrawn from exchanges.
- Most withdrawals have come from BUSD, however USDC and USDT have additionally seen withdrawals from exchanges not too long ago.
- We anticipate this pattern to proceed because the financial system heads risk-off and redemptions happen from stablecoins into fiat.
The publish Lower than $30B of stablecoins now sit on exchanges, wiping out all of 2022’s good points appeared first on CryptoSlate.
