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Stablecoins’ Market Cap Surged Last Week, Shows On-Chain Data

Published 21/10/2023, 10:53
Stablecoins’ Market Cap Surged Last Week, Shows On-Chain Data
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Coin Edition -

  • Santiment revealed that the collective stablecoin market cap surged during the past week.
  • According to the post, the stablecoin market cap recorded its 2nd largest 2-day rise since June this year.
  • Santiment attributed BTC’s rise above $30K to the increase in investors’ buying power.

The blockchain intelligence platform, Santiment, revealed in an X post that the combined market caps of stablecoins surged during the past week. According to the post, this increased buying power is what allowed Bitcoin (BTC) to rise above the $30K mark. Santiment predicted that BTC’s price could continue to rise as long as whales accumulate stablecoins.

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