Summary
- It was reported that an increase in stablecoin issuance is a prerequisite for Bitcoin's rise.
- They stated that without an increase in stablecoin market capitalization, the possibility of Bitcoin rising is low.
- They analyzed that the slowdown in stablecoin market cap growth is due to an overall decrease in virtual asset demand and the Fed's hawkish policy.
An opinion has emerged that for Bitcoin (BTC) to rise, stablecoin issuance must first increase.
On the 10th (local time), Matrixport stated via X, "As stablecoin issuance slows down, a correction is occurring in the virtual asset (cryptocurrency) market," adding that "without an increase in stablecoin market capitalization, the possibility of Bitcoin rising is low."
They further analyzed, "The slowdown in stablecoin market cap growth could be due to an overall decrease in (virtual asset) demand," and "the Federal Reserve's (Fed) hawkish stance in December last year likely also had an impact."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
