In April 2024, issuers of dollar stablecoins “printed” them for $8 billion. Stablecoin Printer reports this, giving details for each of the stablecoins:
-#USDT- printed for $5.293 billion,
-#USDC- printed for $1.542 billion,
-#FDUSD- printed for $1.173 billion,
-#TUSD- printed for 0$,
-#PYUSD- printed for 0$.
And this is in correctional April.
Part of these stablecoins, of course, was used to close positions, to move market players from volatile crypto-assets to stable ones. BUT the stablecoins were not subsequently taken out of circulation; the burning did not cover the “printed” volume.
This means that players remain in the market and the bull market continues. And the decline in April-May is only a correction in it.
