Stablecoin Inflows Signal Renewed Crypto Buying Interest After Terra Crash
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Money is flowing into crypto market through stablecoins for the first time in over a year.
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Increase in stablecoin supply signals potential buying pressure or funds investors may use to purchase crypto.
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This week, 90-day change in top stablecoins flipped positive for the first time since May 2022.
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Turnaround comes as Bitcoin has doubled in 2022 amid prospects of SEC approving a Bitcoin ETF.
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Indicator turned negative after Terra's LUNA token crashed in May 2022, destroying billions in wealth.