Bitcoin Prices Expected to Rise as Stablecoin Minting Reaches New Highs, Says Matrixport Research Report

COINOTAG news reported on October 1 that Matrixport has issued a new research report indicating a significant uptick in stablecoin issuance, reaching levels not seen since March-April’s peak. This surge suggests fresh fiat inflows into the crypto market, thus presenting a bullish signal. Notably, a similar surge in stablecoin issuance in February 2024 was correlated with a substantial increase in Bitcoin prices.

If the current minting trend persists, Bitcoin prices are anticipated to continue their upward trajectory. It’s noteworthy that the acceleration in stablecoin issuance has intensified since the July 31 FOMC meeting. This phenomenon underscores institutional confidence in a low-interest rate environment, bolstering overall market optimism.