PiCK
"Stablecoin Market Cap Reaches Record High of $220 Billion, Signaling End of Bear Market"
Minseung Kang
Summary
- The market cap of stablecoins like Tether (USDT) has surpassed $220 billion, reaching an all-time high.
- CryptoQuant stated that the increase in stablecoin market cap indicates that liquidity is returning to the cryptocurrency market.
- This increase in market cap suggests that Bitcoin is emerging from its bearish phase.
The market cap of stablecoins like Tether (USDT) has surpassed $220 billion (approximately 307 trillion KRW), reaching an all-time high.
On the 2nd, the on-chain data platform CryptoQuant announced via its official X (formerly Twitter) that "liquidity is returning to the (cryptocurrency) market," and that "the stablecoin market cap surpassing $220 billion means that funds are returning to the market. This suggests that Bitcoin is emerging from its bearish phase."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
