Data: The total market value of stablecoins has shrunk by nearly 15 billion dollars since May, market liquidity continues to drain, and the rebound of Bitcoin prices is hindered

CryptoQuant analyst Darkfost stated that since May, the total market capitalization of stablecoins has lost nearly $15 billion, decreasing from about $280 billion to $266 billion.

From October last year to May this year, the market capitalization remained stagnant, indicating that there has been no liquidity inflow or insufficient liquidity. Now, even though Bitcoin's price has stabilized, demand has not recovered, and this weakness hinders the rebound of Bitcoin's price. In contrast, the decline in the market capitalization of stablecoins indicates that liquidity in the crypto market is actually draining away.