The current crypto market correction is merely the middle of the bull cycle, not the top, based on the steadily growing stablecoin supply, which may signal more incoming investment according to analysts.
The cumulative stablecoin supply has surpassed $219 billion, suggesting that the current cycle is still far from its top.
Source: IntoTheBlock
Historically, stablecoin supply peaks have aligned with crypto cycle tops, according to a March 14 X post by crypto intelligence platform IntoTheBlock, which wrote:
“In April 2022, supply hit $187B—just as the bear market started. Now it’s at $219B and still rising, suggesting we’re likely still mid-cycle.”
Increasing stablecoin inflows to crypto exchanges can signal incoming buying pressure and growing investor appetite, as stablecoins are the main investor on-ramp from fiat to the crypto world.
Still, Ether (ETH) price is down over 52% over the past three months,