Stablecoins being converted into Bitcoin helped push the price over $30k
quick take
- There are many factors behind Bitcoin’s resurgence this year, but one of the main ones is the rotation of stablecoins to Bitcoin.
- CryptoSlate analyzed the depletion of stablecoins on exchanges that eventually converted to BTC.
- Over the past few days, this revival has begun again, highlighted by a sharp increase in the share of stablecoin supply coinciding with the Bitcoin price above $30,000.
A post about a stablecoin being converted to Bitcoin first appeared on CryptoSlate, with the price surpassing $30,000.