Data: Matrixport, stablecoin growth slows, cryptocurrency market liquidity support weakens

Matrixport released a daily analysis indicating that while the supply of stablecoins continues to expand, the rolling growth rate over the past 12 months peaked and began to decline in late October. Data shows that the annual growth rate of USDT has dropped from an October peak of 123% to the current 33%, while the annual growth rate of USDC has decreased from its peak to 52%. Analyst Markus Thielen pointed out that the inflow of stablecoins has cooled in tandem with the new liquidity entering the crypto market, and the Federal Reserve's shift towards a more cautious stance is one of the important triggers for the weakening liquidity.

Although the absolute new scale remains considerable, the overall liquidity environment may be weaker than previously expected.