🚀 According to research by CryptoQuant, the market cap of stablecoins is a critical factor driving cryptocurrency price growth as they provide liquidity to the markets.
✅ Meanwhile, data shows a net inflow of stablecoins into centralized crypto exchanges over the past two months.
“Stablecoins on exchanges have surged, with USDT reserves on CEX also reaching a record high of $22.5 billion in 2024,” said Julio Moreno, head of research at CryptoQuant.
✔️ According to the researcher, “the total market capitalization of stablecoins is positively correlated with higher Bitcoin prices.”
