The supply of #stablecoins appear to have been rapidly accumulated by large wallets over the past 3 weeks. Wallets holding at least $5M in #crypto have added a collective 5.09% of the combined supplies of $USDT, $USDC, $BUSD, $DAI, $TUSD, and $USDP.

🥳 #Bitcoin has officially climbed above $50K for the first time since December 27, 2021. #Stablecoin market caps have risen significantly, with $11.4B more added in just 4 months. $5M+ whale wallets have accumulated 2.32% of the top 6 stables in 4 weeks.

💸 Since late September, the constant in #crypto has been encouraging rises in #stablecoin market caps. The combined cap of $USDT, $USDC, $DAI, $BUSD, $TUSD, and $USDP is up $9.42B in 4 months, typically a necessary ingredient for #bullish conditions.

Do you want to see a flight to quality? This is how it looks like.

Stablecoin (DAI) holder's balance rapidly growing since market started to crash.

And it has only increased since LUNA drama started.

A history of the market on one chart.

An answer to this question can be approached by a set of metrics.

Normally people looking for funding rates of derivatives markets data. We can do it on Santiment platform simply using onchain data for stablecoins. And see how actively they are circulating.

1. 1. Circulation 7d, a number of unique stablecoin tokens transacted weekly

2. C7 / MC, it's simply Circulation 7d divided my Marketcap, so we have it normalized

USDT metrics against BTC price:

DAI metrics against BTC price:

If you'd like to take risk when others do not like it, we might be there. In the area of historically quite low activity of stablecoins.

Charts layout: https://app.santiment.net/s/-78LUJmh

Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.