Crypto Funds See $136 Million Inflows Amid 'Seasonal Effects'
Bitcoin’s stablecoin supply ratio [SSR] recently created a 2023 high. This ratio compares the coin’s market cap against the aggregated market cap of all stablecoins. On July 2, this metric peaked at 8.7. Without being able to sustain at the said level, the SSR initiated a downtrend and flashed a value of 8.08 at press time. Usually, low SSR values are deemed to be healthy, for they indicate high stablecoin supply. Thus, it can be contended that the current downtrend is typically setting the stage for the buying pressure to re-sprout, making way for a potential price recovery. Source: CryptoQuant Also Read: Ethereum: Is a ‘Good’ Buying Opportunity in the Making? Bitcoin, Alts register inflows: Institutional interest in-tact Further adding to the optimistic outlook is the institutional behavior. CoinShares’ latest weekly report brought to light that Bitcoin related investment products registered an inflow of $132.8 million. It is interesting to note that the total c...