Stablecoin Market Cap Remains Steady at $124 Billion Amid Bitcoin Surge
According to Foresight News, data from DefiLlama shows that the stablecoin market cap has remained relatively stable at $124 billion during the recent Bitcoin surge. Analysts suggest that stablecoin supply is a lagging indicator, but the lack of recovery signs in stablecoins may indicate that Bitcoin's rise has not brought new liquidity to the crypto market. Vaidya Pallasena, rating director at stablecoin rating agency Bluechip, said that this could be due to a large number of transactions taking place on CME and existing liquidity being driven by the expectation of a Bitcoin spot ETF approval, pushing prices higher. #ContentStar #BountyCreator #GateioBountyCreator #NewsMessenger #GateLive #contentstar #MyFancyCreator #HotTopicDiscussion
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Stablecoin Market Cap Remains Steady at $124 Billion Amid Bitcoin Surge
According to Foresight News, data from DefiLlama shows that the stablecoin market cap has remained relatively stable at $124 billion during the recent Bitcoin surge. Analysts suggest that stablecoin supply is a lagging indicator, but the lack of recovery signs in stablecoins may indicate that Bitcoin's rise has not brought new liquidity to the crypto market. Vaidya Pallasena, rating director at stablecoin rating agency Bluechip, said that this could be due to a large number of transactions taking place on CME and existing liquidity being driven by the expectation of a Bitcoin spot ETF approval, pushing prices higher.
#ContentStar #BountyCreator #GateioBountyCreator #NewsMessenger #GateLive #contentstar #MyFancyCreator #HotTopicDiscussion