According to DefiLlama and Wintermute, the total stablecoin market cap rose above $164 billion for the first time since Terra collapsed in May 2022. The indicator has been hovering around the $160 billion mark.
In a note, Wintermute said the increase "indicates growing investor optimism, underpinning the bullish outlook. The increase in stablecoin supply indicates that money is being deposited into the on-chain ecosystem to generate economic activity, either through direct on-chain purchases that can catalyze price increases or through yield generation strategies that can improve [market] liquidity. This activity ultimately promotes positive on-chain growth."
Blockchain analysis firm Nansen expressed a similar opinion, calling the growth in stablecoin market cap a bullish development.
Wintermute: Stablecoin market cap breaks through $164 billion, supporting market bullish outlook
2024-07-25 08:46:54
According to defillama wintermute data stablecoin total market cap 2022 terradesk3cryptocurrencydesktopCrypto News
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
Michael Saylor和Cathie Wood将在比特币大会上发表演讲
