according to CryptoQuant monitoring, the growth of stablecoin liquidity has slowed down, with the market cap expansion dropping to about $1.1 billion per week, significantly lower than the $4 to $8 billion per week during the Bitcoin bull run at the end of 2024. In addition, the 60-day growth of USDT is about $10 billion, lower than the peak of over $21 billion. Despite the slowdown in issuance speed, the total reserves of stablecoins on exchanges reached a historical high of $68 billion on August 22, with USDT accounting for $53 billion and USDC accounting for $13 billion. The growth of stablecoin market cap continues to be positive, but the slowing growth rate suggests that market liquidity support is weakening, or may be more inclined to enter a consolidation phase rather than a sustained parabolic uptrend.
