On-chain data shows the ‘Exchange Stablecoins Ratio’ for Bitcoin has shot up recently. Here’s what it could mean for the asset’s price. Bitcoin Exchange Stablecoins Ratio Has Broken Above 5 As explained by an analyst in a CryptoQuant Quicktake post, the Bitcoin Exchange Stablecoins Ratio has registered an increase alongside the latest rally in the cryptocurrency’s price. The Exchange Stablecoins Ratio here refers to an on-chain indicator that keeps track of the ratio between the Exchange Reserves of BTC and the stablecoins. The “Exchange Reserve” is naturally the total amount of the asset that’s sitting in the wallets of all centralized exchanges. Related Reading: Where’s Next Major Dogecoin Resistance? On-Chain Data Points To This When the value of the indicator goes up, it means the Exchange Reserve of BTC is rising relative to that of the stablecoins. On the other hand, it going down implies stables are becoming more dominant on these platforms. The Exchange Reserve of both of these asset classes represents something different with respect to the wider sector. In the case of Bit ..
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