Stablecoin rotation into Bitcoin helped fuel the leg up to $29K
- latest bitcoin The surge to $29,000 was aided by stablecoin rotation to Bitcoin.
- According to the stablecoin supply ratio, the oscillator rose to 1.9 this week and fell to 1.7.
- Exchange stablecoins are approaching $20 billion, the same level as in April 2021.
- Around $1.5 billion worth of stablecoins flew from exchanges in April, far less than about $10 billion in the previous month.
It fueled the leg up to $29K that first appeared on CryptoSlate after the rotation from Stablecoin to Bitcoin.