News · Stablecoins & Payments
Glassnode data shows market liquidity falling at the fastest pace since June 2022, while the Coinbase Premium Index stays negative.
Key point 1 of 3
01
Stablecoin supply shrank by $14.2 billion over the 30 days to Nov. 9, the biggest contraction since June 2022.
Key point 2 of 3
02
Tether (USDT) traded slightly under its $1 peg as holders redeemed stablecoins for fiat dollars.
Key point 3 of 3
03
CryptoQuant reported Bitcoin demand dropped by 284,000 BTC over 30 days as the Coinbase Premium Index remained negative.
Context
The $14.2 billion monthly contraction surpasses the $9.5 billion supply drop recorded during the July 1 market pullback and represents the most acute liquidity drain since the…
Why it matters
Capital redemptions directly remove fiat-denominated liquidity from centralized venues, reducing capital available to absorb spot selling pressure across major assets.
What to watch
Monitoring the 30-day stablecoin supply growth metric for an inflection back into positive territory, alongside the normalization of the Coinbase Premium Index.
Sources
Built from 1 primary source, machine-checked before publication.
Keep reading
Read the full story
AI-generated, source-verified. Sources, citations and live prices on the article page.