CryptoQuant: Stablecoin liquidity growth has slowed down, and the market may be more inclined to enter a consolidation phase

CryptoQuant reported on August 28 that the market capitalization of stablecoins expanded by only 1,100 million USD weekly. This is a stark contrast to earlier levels that ranged from 4,000 million to 8,000 million USD.

As of August 22, stablecoin reserves reached a record 68,000 million USD. USDT held 53,000 million USD while USDC contributed 13,000 million USD. With USDT’s growth decreasing to 10,000 million USD from over 21,000 million USD, the market is poised for possible consolidation.