Although the market value of USDC, the main stablecoin, has dropped by US$11 million in the past week, detailed data shows that as of 8 am Beijing time on Saturday, the total market value of USDC has dropped by more than US$150 million, and over the past two days over the weekend , USDC’s market value has rebounded by nearly $140 million. Of course, this does not mean that USDC will definitely rebound significantly, but the increase in funds, especially the increase in funds representing US investors, cannot rule out that the current price is becoming more attractive to US investors. In fact, over the past three weeks, the total market capitalization of USDT and USDC has increased continuously.

Compared to USDT, USDC plays a purer role in the cryptocurrency market. Judging from the USDC stock stored in all exchanges, although the stock of USDC has increased under the influence of BlackRock's application for a Bitcoin spot ETF, it cannot be compared with USDT in terms of the scale or time of the increase. compared to. Especially after the news gradually cooled down, the total amount of USDC funds on the exchange remained almost stable. Even after Grayscale won the SEC lawsuit, the stock only increased slightly and then fell back. This shows that American investors still remain relatively calm and the funds entering the exchange have a strong purpose.

However, compared to USDT, U.S. investors do not seem to be too concerned about the prospects for future gains in the cryptocurrency market, at least not yet. As mentioned earlier, we can see that the total stock of USDT on exchanges continues to increase, and judging from the trend in the past two years, the stock of USDT is not at a historical low, but around the mid-range. However, USDC is completely different. It can be clearly seen that the total stock of USDC on exchanges is a historical low in the past two years. This suggests that more U.S. investors are not betting their money on Bitcoin, Ethereum, or the cryptocurrency market as a whole. Of course, this is in line with our expectations because we all know that there are better, more, and safer investment options in the United States. Therefore, despite the reduction in purchasing power, there is still a lot of money eager to enter the market.