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Stablecoin Liquidity Reaches Record High $220 Billion: Report
A recent report by CryptoQuant has revealed that the liquidity in the stablecoin market has reached a record high of $220 billion. This surge is primarily driven by the growing market caps of Tether (USDT) and USD Coin (USDC), which have led to an influx of capital into the broader crypto ecosystem.
According to the report, USDT’s market cap rose by $2.5 billion in the past week, while USDC’s increased by $1.2 billion. This marks the strongest weekly growth in stablecoin supply since February 9. Over the past 30 days, these figures have continued to rise. USDT has added $5.3 billion and USDC has surged by $6 billion during this period.
This data suggests that both stablecoins are expanding above their 30-day moving averages. Historically, such a pattern has been associated with periods of increased liquidity and stronger performance in the broader crypto market. In particular, this trend is perceived as a bullish indicator for Bitcoin (BTC).
Source: https://cryptopotato.com/stablecoin-liquidity-reaches-record-high-220b-report/
