Large Investors Boost Stablecoin Holdings as Stablecoin Hits Highest Market Cap Since 2022

• Large investors accumulated 5.09% of leading stablecoins as stablecoins mark the highest market cap since 2022.
• Whales now hold 55.37% of the total supply, indicating significant institutional participation.
• Stablecoins serve as a refuge from volatility and provide liquidity for future trades, analysts suggest.

Crypto analysis platform Santiment revealed a surge in stablecoin holdings by large investors. Their data shows that wallets containing at least $5 million in cryptocurrency have collectively added 5.09% of the total supply of leading stablecoins like Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) over the past three weeks.

The supply of #stablecoins appear to have been rapidly accumulated by large wallets over the past 3 weeks. Wallets holding at least $5M in #crypto have added a collective 5.09% of the combined supplies of $USDT, $USDC, $BUSD, $DAI, $TUSD, and $USDP. https://t.co/BIR43pbgNO pic.twitter.com/oCGzD8wqEU

— Santiment (@santimentfeed) April 2, 2024

Source: Santiment news 

This significant accumulation, exceeding $143 billion (143.02B BTC), marks the highest combined market cap for these stablecoins since 2022. Interesti…

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