#stablecoin#USDT#USDC #BUSD
As you all know, PAXOS announced yesterday that it would stop minting new BUSD and terminate its cooperation with Binance:
Affected by this, the supply of BUSD will not increase in the future, so it is no longer meaningful to analyze the momentum of BUSD supply. In the future, I will remove the data tracking of BUSD and only track UDST. As for USDC, because its current trading volume is too small (less than 10%), I will consider it if the trading volume of USDC exceeds 20% in the future.
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 zone from the long-term bearish zone.
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 13): 1.93, panic zone, week-on-week increase: 3.2%
From the perspective of on-chain capital utilization, TVL decreased by about 2.69 billion last week and Mcap decreased by about 670 million, resulting in a slight month-on-month increase in Mcap/TVL overall.