The stablecoin supply available to invest in crypto assets in Q4 2023 was $3.8 billion. This is the first time in over two years that the net supply of the top five stablecoins has turned positive. Zero-knowledge (ZK) technology became one of the most often discussed topics in the crypto field in 2023.

Inflows of “Stablecoin ” outnumber outflows.

Following six consecutive quarters of negative net supply, the top five stablecoins reported a $3.8 billion positive net supply in Q4, according to a recent Binance analysis. The last time the stablecoin supply was positive was in the first quarter of 2022, when it surpassed $17 billion.

According to the study report, stablecoin supply denotes the amount of funds ready and available to purchase cryptographic assets.

According to the study data, the second quarter of 2022 had the highest negative net supply of $15.6 billion, while the third quarter of the same year had the lowest negative net supply over time. However, stablecoin inflows have outperformed outflows since the fourth quarter of 2022, when they surpassed $9.9 billion.

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“Given that increasing stablecoin supply is a measure of capital inflows into crypto and an indication of potential buying pressure, the recent move can be evaluated as a positive sign,” according to the report.

Increasing protocol fees

According to the survey, the other significant narrative in 2023 and one to watch for in the following year is the November increase in protocol costs. According to the data, the top 20 projects’ protocol costs were “over 88% higher on a month-to-month basis in November as compared to January.”

Among the key narratives in 2023 are the “Stablecoin “supply turning positive and rising protocol fees.

Fees on the Ethereum blockchain exceeded $2 billion, with Tron coming in second with $880 million. Lido Finance and Uniswap, both decentralized platforms, had the second most produced fees, with $547 million and $477 million, respectively.

In 2023, zero-knowledge (ZK) technology became one of the most often discussed topics in the crypto field. Previously, the incompatibility of ZK technology with the Ethereum Virtual Machine (EVM) hampered its progress.

According to Binance research, the other top ten themes in 2023 are the rise of real-world assets (RWA) and Social. The rise of alternative layer ones (L1), the resurgence of decentralized finance (defi), and talk of interest rate cuts were also among the year’s significant narratives.

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