BIS economists find a 1bp deposit rate rise drops stablecoin growth to 12%

Crypto Insight Summary: A 1-basis-point rise in US bank deposit rates cuts 10-week stablecoin growth from about 15% to 12%, a BIS working paper finds. USDC reacts most. Crypto Insight Analysis: Direction: Bearish USDC / Neutral BTC / Neutral ETH Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Deposit rate rise reduces stablecoin demand, impacting USDC most.