SSR (Stablecoin Supply Ratio)

The Stablecoin Supply Ratio (SSR) is the ratio between Bitcoin supply and the supply of stablecoins.

Indicator Overview

The Stablecoin Supply Ratio (SSR) is the ratio between Bitcoin supply and the supply of stablecoins, denominated in BTC.

When the SSR is low, the current stablecoin supply has more "buying power" to purchase BTC. It serves as a proxy for the supply/demand mechanics between BTC and USD.

• View SSR in Glassnode Studio
• View SSR in Glassnode API Docs

How is it measured?

SSR is calculated by dividing the total market capitalization of BTC by the total market cap of all (known and tracked) stablecoins in circulation.

$$\textrm{SSR} = \frac{\textrm{Market Cap}~{\color{gray}{\textrm{(of BTC)}}}}{\textrm{Market Cap}~{\color{gray}{\textrm{(of all Stablecoins)}}}}$$

About

Coined By

Renato Shirakashi

Date Created

November 2019

Further Resources

Rafael Schultze-Kraft and Renato Shirakashi - Stablecoins' Buying Power over Bitcoin