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According to Jinse Finance, monitored by CryptoQuant, the growth of stablecoin liquidity has slowed down, with the weekly market capitalization expansion dropping to around $1.1 billion, significantly less than the $4 to $8 billion per week during the Bitcoin rally at the end of 2024. In addition, the 60-day growth of USDT is about $10 billion, lower than the previous peak of over $21 billion. Despite the slowdown in issuance, the total stablecoin reserves on exchanges reached a historical high of $68 billion on August 22, with USDT accounting for $53 billion and USDC for $13 billion. The growth in stablecoin market capitalization remains positive, but the slower pace suggests that market liquidity support is weakening, which may indicate a tendency to enter a consolidation phase rather than a continued parabolic rally.

ChainCatcher news, Wang Hua, Chief Financial Officer of PetroChina (00857), stated at the interim results conference that the company is closely monitoring the Hong Kong Monetary Authority's move to issue licenses to stablecoin issuers, and is currently studying the possibility of using stablecoins for cross-border settlement and payments.