Bitcoin Can Attract Large Capital Inflows on Short Notice: Research

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Bitcoin is at the cusp of attracting large capital inflows from the neighboring stablecoin market, according to a weekly research note published by Glassnode. The on-chain market analyst highlighted that the net supply of dollar-pegged tokens surged higher than Bitcoin. It concluded that more money held in stablecoins increases the chances for Bitcoin to start a new price rally on short notice. Bitcoin expects to attract a massive inflow of capital in a potential mass-migration from the stablecoin market, so says Glassnode. The Zug-based data intelligence agency wrote in its weekly research note that the supply of stablecoins outpaced that of Bitcoin. The fractal points to an increase in demand for the US dollar-pegged tokens. Traders and investors can utilize the new stablecoin repository to pump the Bitcoin market. These non-federal digital dollars tend to improve liquidity in the cryptocurrency market. Traders use them to purchase or sell cryptocurrencies without…

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