Bitcoin market is experiencing a demand explosion! 🎉
- Bitcoin supply is melting away from demand. According to CryptoQuant, while BTC demand is rapidly increasing, the amount of BTC available for sale is at its lowest level since 2020.
- OTC desks are providing Bitcoin for institutional buyers. However, their BTC balances are decreasing as demand outstrips supply. 📉
- The total market value of USD-based stablecoins has exceeded $200 billion. This indicates fresh money entering the crypto market.
Let's discuss the future effects of this demand explosion in the comments! 💬