Bitcoin Stablecoin Supply Ratio Showing Neutral Purchasing Power

In its latest weekly report, the on-chain analytics firm Glassnode has talked about the latest trend in the Stablecoin Supply Ratio (SSR) of Bitcoin. This indicator measures the ratio between the Bitcoin supply and the supply of stablecoins.

Stablecoins are cryptocurrencies that have their price tied to a fiat currency. The SSR specifically measures the supply of the stablecoins tied to the US Dollar (USD). As for the role that these assets play in the sector, Glassnode explains:

Stablecoins have become a critical component of the digital asset ecosystem, serving as the primary quote asset for trading across both centralized and decentralized venues. Functionally, they represent readily available capital, or “dry powder”, available for digital asset purchases.

As such, the SSR compares the Bitcoin supply against this available dry powder. In other words, it tells us about how the cryptocurrency compares against the investor’s purchasing power.

When the value of the metric is high, it means the BTC supply is high compared to the stablecoin supply. In other words, the trader’s purchasing power is weak. On the other hand, the indicator being low suggests there is high dry powder available relative to the BTC supply.

In the context of the current discussion, the SSR itself isn’t of focus, but rather a modified indicator called the SSR Oscillator. According to the analytics firm, the metric measures “how the 200d SMA of the SSR moves within the Bollinger Bands BB(200, 2).”

Now, here is a chart that shows the trend in the Bitcoin SSR Oscillator over the last few years:

As displayed in the above graph, the Bitcoin SSR Oscillator has been close to the zero mark during the last couple of months, indicating the investor purchasing power is more or less neutral compared to the size of the BTC supply.

From the chart, it’s visible that the trend was different during the rally beyond $100,000 that occurred late last year. Back then, the SSR Oscillator took on a highly positive value, suggesting the stablecoin supply was low relative to BTC.

The cryptocurrency is currently also trading around the same levels as then, yet the SSR is showing a different story. “Despite similar price levels, this shift suggests that investor purchasing power has improved markedly, reflecting stronger underlying demand conditions,” notes the report.

BTC Price

At the time of writing, Bitcoin is trading around $109,500, up over 2% in the last seven days.

On Saturday, Texas became the first-ever US state to commit public funds towards the purchase of Bitcoin.

Governor Greg Abbott signed Senate Bill 21 (SB21), officially authorizing the establishment of the Texas Strategic Bitcoin Reserve.

Keep reading to learn more about this development, increasing investor and government confidence in Bitcoin’s long-term potential, and what’s the best crypto to buy now in order to ride the upcoming crypto wave.

Texas Passes Groundbreaking Bitcoin Reserve Bill

‘We can buy land, we can buy gold; I think the state of Texas should have the option of evaluating the best performing asset over the last 10 years.’

This is what the Texas Bitcoin bill’s author, State Senator Charles Schwertner, said in February.

Four months later, Texas has put its faith in the ‘digital gold’ to strengthen its financials and act as an effective hedge against inflation.

It’s worth noting that although Texas is the third US state to create a Bitcoin reserve (after Arizona and New Hampshire), it’s the first to create a publicly-funded reserve.

Neither of the other two has allocated public funds for the purchase of Bitcoin.

By putting actual taxpayer dollars into $BTC, Texas has not only officially recognized Bitcoin as a store of value but also signaled its unwavering trust and long-term commitment to the digital asset.

A publicly-funded reserve is also likely to increase demand for Bitcoin. It’s also worth mentioning that large public companies like Michael Saylor’s Strategy have aggressively bought Bitcoin over the past few months.

With here are some of the best new cryptos you can buy to benefit from Bitcoin’s growing acceptance among corporations and government agencies.

1. BTC Bull Token ($BTCBULL) – Best Crypto to Buy Now, Get Free $BTC Airdrops

BTC Bull Token ($BTCBULL) is the best crypto to invest in if you want to eke out the maximum amount of returns possible from Bitcoin’s bull run.

$BTCBULL’s biggest selling point is that it’s the ONLY crypto on the market right now, offering free (and completely legit) $BTC to its token holders.

If you’re a $BTCBULL holder who has stored his tokens in Best Wallet, you’ll receive your share of free $BTC (depending on your $BTCBULL holdings) every time the king cryptocurrency reaches a landmark, such as $150K and $200K, for the first time.

Thanks to its never-before-seen approach to rallying behind Bitcoin and community rewards, BTC Bull Token is predicted to explode 270% and reach $0.0096 by 2026.

A huge reason behind this is the project’s deflationary model, which will burn a part of the total $BTCBULL token supply at regular intervals, creating a supply shortage and hiking prices.

The best part? $BTCBULL is currently in presale, where it has raised over $7.2M. Each token is priced at $0.002575, and here’s how to buy it.

2. Bitcoin Hyper ($HYPER) – Building Layer 2 on Bitcoin for Scalability & Fast Transactions

Despite being the OG blockchain, Bitcoin has been struggling with slow transaction speeds and high fees, as well as limited compatibility with decentralized applications and Web3. Enter Bitcoin Hyper ($HYPER).

By building a Bitcoin Layer 2 and connecting it to the Layer 1 using a Canonical Bridge and Solana Virtual Machine (SVM) integration, Bitcoin Hyper aims to bring programmability and scalability to the Bitcoin ecosystem.

Plus, it will do so without impacting the network’s security and decentralization benefits.

Luckily for you, one $HYPER is currently available for just $0.011975 (the token could soar 2,000% by 2030), and the project has in total raised over $1.5M. Here’s how to buy it.

3. Tutorial ($TUT) – Educating Folks About Everything Crypto

Tutorial ($TUT) has been one of the biggest beneficiaries of crypto’s growth and increasing awareness among the masses.

That’s because it’s an AI-powered tool that educates people about different crypto-related topics and tools, including setting up a crypto wallet.

Other ‘tutorials’ in its repertoire include teaching people how to write smart contracts, trade on the best decentralized exchanges, and learn everything there is to know about the BNB chain ecosystem.

$TUT has been on a sensational run of late, gaining more than 25% over just the past 7 days. It’s currently trading at $0.03583, offering a discounted entry point before it explodes to mimic crypto’s rise.

As States Back $BTC, Altcoins Emerge as Attractive Investments

With regulated, state-backed crypto holdings becoming increasingly mainstream, we’re clearly headed towards a world where diversified crypto assets (the best altcoins included) are looked at as both stores of value and investment opportunities.

However, make sure you do your own research and due diligence before investing in crypto. The market is highly uncertain, and our article isn’t financial advice.

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HashKey Capital, a digital asset management firm based in Hong Kong, has announced the launch of a new investment product focused on XRP, marking a strategic step toward increasing institutional exposure to the third largest crypto asset by market cap in Asia.

The product, called the HashKey XRP Tracker Fund, is positioned as the region’s first investment vehicle specifically designed to mirror XRP’s market performance. The firm also stated that there are plans to evolve the fund into an exchange-traded fund (ETF) in the future.

The Aim Behind Asia’s First XRP Tracker Fund

According to an April 18 announcement, Ripple will act as the anchor investor in the Tracker Fund, reinforcing the partnership between the blockchain firm and HashKey.

HashKey Capital is launching Asia’s first XRP Tracker Fund—with @Ripple as an early investor.

This marks a major step in expanding institutional access to XRP, the third-largest token by market cap.

— HashKey Capital (@HashKey_Capital) April 18, 2025

The initiative aims to attract regulated institutional capital into the altcoin’s ecosystem and to expand accessibility for digital asset investors across the region. HashKey has indicated that the new fund aligns with its ongoing efforts to create compliant, crypto-native financial instruments within regulated markets.

In addition to launching the Tracker fund, HashKey Capital disclosed that the firm and Ripple are deepening their collaborative relationship. The companies are currently exploring the development of additional investment products and financial infrastructure that leverage the XRP Ledger.

These discussions include the potential launch of a money market fund (MMF) using tokenization on the XRP blockchain, as well as the creation of cross-border decentralized finance (DeFi) solutions.

Collaboration With Ripple and Future Product Expansion

Vivien Wong, a partner at HashKey Capital, noted that the collaboration extends beyond financial investment. She said the firm will contribute its network of financial institutions, regulatory bodies, and investors in the region to assist Ripple’s broader objectives.

Wong emphasized that the collaboration supports Ripple’s initiatives in decentralized finance and enterprise blockchain adoption. The XRP Tracker Fund becomes the third tracker fund in HashKey’s portfolio, following similar products for Bitcoin and Ethereum.

3/ A first in Asia, but not the last

The XRP Tracker Fund is HashKey Capital’s third tracker fund, following its Bitcoin and Ethereum ETFs.

With regulatory approval, it could evolve into an ETF in the next 1-2 years, further broadening institutional access.

— HashKey Capital (@HashKey_Capital) April 18, 2025

These offerings reflect the firm’s strategy to provide institutional-grade access to key digital assets. Although not an ETF at this stage, HashKey has indicated the XRP fund may transition to an ETF structure, pending regulatory developments and investor demand.

The introduction of a region-specific XRP fund supported by Ripple adds to the growing interest in bringing traditional financial frameworks to crypto markets in Asia. Interestingly, XRP’s price was ignorant to the news with the asset seeing no uptick but instead trading at $2.08 marking a 1.2% decrease in the past day.

Featured image created with DALL-E, Chart from TradingView

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