#stablecoin#USDT#USDC #BUSD
Data meaning:
1. Histogram value <0: represents that the MACD line is less than the signal line, indicating a long-term bearish trend
2. Histogram value > 0: It means that the MACD line is greater than the signal line, which is a long-term positive trend.
3. Dark color of histogram: represents month-on-month acceleration, red represents short-term bearish trend
4. Light color of histogram: represents month-on-month deceleration, pink represents short-term positive trend
Last week's data:
Figure 1: USDT supply histogram, long-term bearish + short-term neutral trend
Figure 2 below: BUSD supply histogram, long-term bearish + short-term bearish trend
Figure 3 below: The total supply histogram of USDT+BUSD can represent the momentum of the main trading funds in the market. The sum of the two can also avoid the influence of the rise and fall of a single stablecoin on the judgment of the trend. This chart is currently in a long-term negative + short-term negative trend
Mcap/TVL
Mcap/TVL is the ratio of the total market value of stablecoins to TVL, which reflects the utilization rate of funds of stablecoins on the chain.
The higher the utilization rate, the smaller the Mcap/TVL ratio, which means that the market sentiment tends to be optimistic.
The lower the utilization rate, the larger the Mcap/TVL ratio, which means that market sentiment tends to be pessimistic.
Mcap/TVL current value (January 2): 2.43, tends to be pessimistic, week-on-week increase: 1.25%
From the supply histogram, we can see that BUSD is still in an outflow trend (but the outflow speed has slowed down), and the main capital is also in a bearish trend. Mcap/TVL continues to rise, indicating that the sentiment on the chain is still in a deep bear pessimism.