The on-chain action for both of the largest stablecoins burst as (BTC) was breaking up the $11,000 price barrier.
Several stablecoins, including the market-leading Tether (USDT), have recently experienced a significant growth in market capitalization. We observe that a significant increase in the transfer volume of USDT, DAI (DAI), and USDC (USDC) coincided with the latest Bitcoin bull run. It is not clear from the chart whether this metric can be considered a leading or lagging indicator.
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