CRYPTO LIQUIDITY UPDATE

Stablecoin market cap has fallen about $14B from its May peak, according to CryptoQuant analyst Darkfost.

Since September, supply has recovered by roughly $4B to around $270B, but that only reverses part of the earlier decline.

The data points to a modest liquidity recovery rather than a strong expansion. For crypto markets the pace of stablecoin growth remains an important liquidity metric to watch.