#stablecoin#stablecoin#USDT
Data meaning:
1. Histogram value <0: represents that the MACD line is less than the signal line, indicating a long-term bearish trend
2. Histogram value > 0: It means that the MACD line is greater than the signal line, which is a long-term positive trend.
3. Dark color of histogram: represents month-on-month acceleration, red represents short-term bearish trend
4. Light color of histogram: represents month-on-month deceleration, pink represents short-term positive trend
Last week's data:
USDT supply histogram, long-term neutral + short-term positive trend
The current supply histogram has entered the neutral range from the long-term bearish range and broke through the 0 axis last week.
Mcap/TVL
Mcap/TVL is the ratio of the total market value of stablecoins to TVL, which reflects the utilization rate of funds of stablecoins on the chain.
The higher the utilization rate, the smaller the Mcap/TVL ratio, which means that the market sentiment tends to be optimistic.
The lower the utilization rate, the larger the Mcap/TVL ratio, which means that market sentiment tends to be pessimistic.
Mcap/TVL current value (February 20): 1.79, panic zone, week-on-week increase: -7.25%
From the perspective of on-chain capital utilization, Mcap did not change much overall last week, but TVL increased by about 5.34 billion, resulting in an overall month-on-month decrease in Mcap/TVL (a positive trend).