Liquid HBD In Decline?

Here are some charts that represent the liquid HBD supply and HBD in the savings. HBD in the DHF is not included.

Here we can see that the overall HBD supply in 2022 has been going down, with some recent sharp increases due to HBD price pumps.
At the beginning of the year the liquid HBD supply was at 11M, while HBD in the savings 3M.

Now the liquid HBD is at 5.3M and 3.7M in savings.
There have been some ups and downs in the period.

When we plot this two in a relative term we get this.

The growth of the HBD in savings against the liquid supply is higher here. The amount of HBD in savings has increased a bit, but the overall HBD supply has went down, causing the HBD in savings to increase. At the beginning of the year around 20% of the HBD supply was in savings while we are now at 40%. So an increase from 20% to 40%.

Recently this percent was even higher, almost at 50%, but because of the few increases in the HBD price it went down a bit. Most likely soon it will reach 50% again. Also to add that there is some HBD in the liquidity pools that CUB provides.

While we can see that the growth of the HBD in savings has been moderate, not to forget it is a bear market and any growth is great. In relative terms this growth is much higher.

Cant tell for sure a 100%, but if all goes well I do expect at some point a bigger percent of HBD to be in savings putting more pressure on the prices. Probably this has already happened in July and August with the increases in the HBD price.