#stablecoin #stablecoin
Data meaning:
1. Histogram value <0: It means that the MACD line is smaller than the signal line, indicating a long-term negative trend.
2. Histogram value >0: It means that the MACD line is greater than the signal line, which is a positive trend in the long term.
3. Dark green histogram: represents month-on-month acceleration, dark green short-term positive trend
4. Light color of the histogram: represents month-on-month deceleration, light green short-term negative trend
Last week’s data:
USDT supply histogram, which continued to rise last week. Currently in a long-term neutral + short-term positive trend
Mcap/TVL
Mcap/TVL is the ratio of the total market value of stablecoins to TVL, which reflects the capital utilization of stablecoins on the chain.
The higher the usage rate, the smaller the Mcap/TVL ratio, which means that market sentiment tends to be optimistic.
The lower the usage rate, the greater the Mcap/TVL ratio, which means that market sentiment tends to be pessimistic.
Current value of Mcap/TVL (March 06): 1.84, pessimistic, week-on-week increase: 0.02%
Looking at the on-chain fund utilization rate, Mcap and TVL decreased slightly last week simultaneously, and Mcap/TVL remained basically unchanged month-on-month.
It should be noted that this is the second week that Mcap and TVL have dropped simultaneously. Although USDT supply is rising, BUSD supply continues to decrease, resulting in a decrease in the overall stablecoin supply.
