Wintermute: Stablecoin Market Capitalization Surpasses $164 Billion, Supporting Bullish Market Outlook
The total market capitalization of stablecoins rose above $164 billion for the first time since the Terra crash in May 2022, according to DefiLlama and Wintermute. The indicator had been hovering around the $160 billion mark.
Wintermute said in a report that the increase “indicates growing investor optimism, supporting a bullish outlook. The increase in stablecoin supply suggests that funds are being deposited into the on-chain ecosystem to generate economic activity, either through direct on-chain purchases that can catalyze price increases, or through revenue-generating strategies that can improve (market) liquidity. This activity ultimately promotes positive on-chain growth.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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