One
metric
that
underscores
this
behavior
is
the
balance
of
Ethereum-based
stablecoins
on
exchanges.
The
amount
of
stablecoins
on
exchanges
declined
steadily
heading
into
the
election
as
investors
took
a
“wait-and-see
approach”,
Shuttleworth
said.
Then,
following
Nov.
5
election,
stablecoin
balances
jumped
to
a
yearly
high
of
$41
billion
from
around
$36
billion
in
early
November,
Nansen
on-chain
data
shows,
as
investors
deposited
stablecoins
pent-up
demand
for
crypto
assets
The
stablecoin
growth
happened
while
activity
soared
across
multiple
corners
of
the
digital
asset
economy
as
bitcoin
(BTC)
hit
record
highs
on
Donald
Trump’s
election
victory,
and
anticipation
of
a
crypto-friendly
regime
unleashed
animal
spirits.