Analyst: The total market value of stablecoins has shrunk by US$14 billion since May, and the recovery momentum is weak

PANews reported on October 3 that CryptoQuant analyst Darkfost issued an article stating that due to insufficient liquidity flowing into the crypto market, the total market value of stablecoins is difficult to recover. Stablecoins have lost $14 billion in total market capitalization since May, indicating massive outflows from the market. However, things have improved slightly since September, with market capitalization growing by $4 billion, bringing the total stablecoin market capitalization back to about $270 billion. Although the current trend appears to be reversing, the recovery remains weak; more momentum will be needed to propel Bitcoin to new highs.