NYDIG: After the US election, the total issuance of stablecoins surged, indicating a new influx of funds to purchase BTC

Odaily Planet Daily News: NYDIG recently studied the foundation of the rebound in the Bitcoin and cryptocurrency markets, and pointed out that the funding rate of BTC perpetual swap contracts has jumped to "the highest point since the ETF triggered rebound peaked in March". It is worth noting that as BTC prices hover around $90000, funding rates have "eased somewhat", although not as "consistently positive" as during the March rebound, they are still "above historical averages". In addition, the report points out that stablecoins are an important way for investors to convert cash into cryptocurrencies, especially offshore cryptocurrencies. After the election, the total circulation of stablecoins increased significantly by $6.2 billion. This indicates that new funds are pouring in from off exchange markets to purchase digital assets such as Bitcoin. The report also states that the majority of stablecoin issuances "come from USDT rather than USDC, as USDT is the primary quote currency for offshore exchanges. Onshore trading venues tend to rely on the US dollar as the quote currency, transferring the US dollar to exchanges through traditional banking channels (ACH, wire transfers)." With the rise in cryptocurrency prices and increasing demand for stablecoins, USDT prices "have now shifted from a discount to a premium," once again indicating an increased demand from investors for the digital asset ecosystem. （Crowdfund Insider）