OPEN-SOURCE SCRIPT
StableCoin MC vs Total MC by Crypto5Max
In this indicator you will find the sum of all stable coins (market cap) divided by the total crypto market cap.
I believe there's a positive correlation between stable coins issuance and BTC's(and other coins) price appreciation. Or shortly put, to me the rising levels of stable coins represent increased levels of buying power (and adoption) waiting on the sidelines.
Here, I am taking the total market cap of all stable coins and dividing it by the total crypto market cap to get a ratio. Note, only ~85% of all stable coins are calculated (rest are not on TV), however, it should still be a fairly good representation. Some of the stable coins are already locked in smart contracts for yield farming and what not. I'd also say, there's interesting 2-year long channel that's developing currently. That said, take this indicator with a grain of salt as we still have a limited set of data.
Yours truly
I believe there's a positive correlation between stable coins issuance and BTC's(and other coins) price appreciation. Or shortly put, to me the rising levels of stable coins represent increased levels of buying power (and adoption) waiting on the sidelines.
Here, I am taking the total market cap of all stable coins and dividing it by the total crypto market cap to get a ratio. Note, only ~85% of all stable coins are calculated (rest are not on TV), however, it should still be a fairly good representation. Some of the stable coins are already locked in smart contracts for yield farming and what not. I'd also say, there's interesting 2-year long channel that's developing currently. That said, take this indicator with a grain of salt as we still have a limited set of data.
Yours truly
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Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.