The #US government currently possesses 205,514 #BTC, valued at $6 billion, which includes assets acquired from the #Bitfinex hack and #Silk Road. As a result, they have become one of the biggest #Bitcoin holders globally.

There're some rumours that #US Government selling publicly Siezed #Bitcoins.

As per Glassnode data, there isn't any change

What is Stablecoin ?

#Stablecoin are a type of cryptocurrency that are designed to maintain a stable value, usually #pegged to a fiat currency like the #US dollar. Unlike other cryptocurrencies such as #Bitcoin or #Ethereum, which can experience significant price volatility, stablecoins aim to provide stability and minimize fluctuations in value. They achieve this by backing the value of each coin with #reserves of the pegged fiat currency or other assets.

Stablecoins offer several benefits in the crypto ecosystem. They can be used as a store of value, a medium of #exchange, or a unit of account, providing stability for users and facilitating everyday transactions. Additionally, stablecoins can enable #faster and cheaper #cross-border transactions compared to traditional #banking systems.

Different types of stablecoins exist, including #fiat-collateralized stablecoins, crypto-collateralized stablecoins, and algorithmic stablecoins. Each type has its own mechanism for maintaining price stability.

Overall, stablecoins play a crucial role in the cryptocurrency market, providing a reliable and stable digital #asset that combines the benefits of cryptocurrencies with the stability of traditional fiat currencies.

Recent #stablecoins capital outflows are driven primarily by the second (#USDC), and third (#BUSD) largest assets, seeing supplies fall in 2023 by -$15.7B and $-11.5B, respectively. #USDT has absorbed a significant proportion of these flows, pushing to a new #ATH supply of $83.1B.

It is likely that this reflects a geographical divergence, with #US regulated entities historically having expressed a preference for #USDC over #USDT.