As per The Block Research’s findings, The total supply of allocated stablecoins to be heightened by 94% since February 2020.
The duration results, the total supply to rose from $5.68 billion to $11.0 billion. As of May, the diagram rose from $9.6 billion to $11 billion. The chart demonstrates the massive plurality of stable coin expansion is in the aspect of Tether USDT.
The rise in supply outcomes amid a global liquidity crunch stemming from the coronavirus-fueled economic collision, asserted by The Block’s Larry Cermak.
According to the inscription of Cermak “It’s not immediately clear whether the new supply comes from new demand or whether it is existing money that was already on exchanges and is now being converted into stablecoins,”.