More than $2.5 billion has been issued by Tether and Circle over the past week, and 10x Research believes continued momentum could spark a Bitcoin rally.
An increase in stablecoin issuance could be the key to the next Bitcoin surge, according to 10x market researcher Markus Thielen.
Nearly $2.8 billion was issued by stablecoin providers Tether and Circle earlier last week, indicating that “some institutional investors are injecting fresh capital into the crypto market,” stated the head researcher at 10x Research on Aug. 14.
He added that if stablecoin issuance continues, it could result in upward momentum for BTC prices.
