Stablecoin Expansion Continues as Bitcoin Rally Appears to Stall

- The cumulative supply of the top three stablecoins – USDT, USDC, and DAI – has increased to $141.42 billion, the highest since May 2022. - The data indicates that capital continues to flow into the crypto market. - Other indicators like bitcoin’s MVRV Z-score suggest there is plenty of upside left in the top cryptocurrency by market value. Bitcoin’s (BTC) steep rally has recently lost impetus. Still, the supply of stablecoins or dollar-pegged cryptocurrencies, often considered a powder keg …