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Bullish#usdtandusdcstablecoinsupplydecline
#WhatWillDriveCryptoandStocks’NextRebound?
The stablecoin liquidity contraction is being driven primarily by the two largest dollar-backed stablecoins.
USDT currently represents approximately $175.5–175.7 billion, or 61% of the market, after losing around $8.3 billion in supply over 30 days.
USDC stands at approximately $69.5 billion, representing around 24% of the market, following a contraction of approximately $3–3.7 billion.
Together, $USDT and $USDC account for roughly 85% of total stablecoin supply and the bulk of the recent decline.
This concentration is important because changes in their issuance and redemption activity have an outsized impact on the liquidity available across the entire cryptocurrency ecosystem.
Until these two stablecoins stabilize and return to positive supply growth, the broader liquidity environment is likely to remain constrained.
#WhatWillDriveCryptoandStocks’NextRebound?
The stablecoin liquidity contraction is being driven primarily by the two largest dollar-backed stablecoins.
USDT currently represents approximately $175.5–175.7 billion, or 61% of the market, after losing around $8.3 billion in supply over 30 days.
USDC stands at approximately $69.5 billion, representing around 24% of the market, following a contraction of approximately $3–3.7 billion.
Together, $USDT and $USDC account for roughly 85% of total stablecoin supply and the bulk of the recent decline.
This concentration is important because changes in their issuance and redemption activity have an outsized impact on the liquidity available across the entire cryptocurrency ecosystem.
Until these two stablecoins stabilize and return to positive supply growth, the broader liquidity environment is likely to remain constrained.
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