CryptoQuant: Growing Stablecoin Supply May Drive Cryptocurrency's Next Rise

ChainCatcher News - CryptoQuant says the growth of stablecoin over the past year could drive the next cryptocurrency rally. A report suggests that by 2024, stablecoin transfers surpassed the combined transaction volume of Visa and MasterCard.

According to CryptoQuant's weekly cryptocurrency report, liquidity conditions in the cryptocurrency market, as measured by the total value of stablecoins in circulation, have been boosted since the U.S. presidential election. The total market capitalization of stablecoins recently surpassed $200 billion, hitting an all-time high of $204 billion, according to the report. This marks a significant increase of $37 billion since November 4, 2024, when Donald Trump won the U.S. presidential election.