MARKET MOVEMENT Current stablecoin supply has shrunk by $13 Billion over the last week, with $10 Billion being redeemed by major issuers (mainly USDT, BUSD and USDC) and $3 Billion being retired from DAI alone. This gives us some insight into what we can expect form the market in the next few moths, and we’re ready for it.
How can we expect market structure to react to this in the next few months?
A decreased stable coin supply and adjusted balances, will inevitably decrease purchasing power for retail, which will likely cause some panic selling, however, this is likely what large players want, before creating a larger wave of large buying orders which should push BTC towards at least $30,000
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