Matrixport: The slowdown in stablecoin minting may lead to continued consolidation in the crypto market
ChainCatcher news, Matrixport released today's chart report. The 7-day minting data of stablecoins shows that the pace of fiat currency inflow into the crypto market has significantly slowed down before the Christmas holiday, which may be related to the Federal Reserve's shift to a hawkish policy in mid-December.
Due to the continued low activity of fiat deposits flowing into stablecoins, Bitcoin and other cryptocurrencies may continue to consolidate. Although the quiet period of the holidays has ended, there has not yet been a significant rebound in the inflow of funds into stablecoins. This indicator remains an important signal of changes in market demand, as an increase in stablecoin minting typically indicates a rise in demand for the cryptocurrency market.
Currently, while there has been a slight rebound in stablecoin minting activity, its sustainability remains unclear. Only when this trend continues steadily is it possible to push Bitcoin out of the consolidation phase and back into a bull market.