Bihang News, on-chain analyst Yu Jin said that the crypto market has been falling for half a year this year, and the overall market cap of USD stablecoins has decreased by about $10 billion, now standing at $300 billion. The outflowing funds mainly flowed into the U.S. stock market. In the latest quarter, the total supply of USDT decreased from $189.8 billion to $184.1 billion, with an outflow of $5.7 billion; the total supply of USDC decreased from $79.6 billion to $73.0 billion, with an outflow of $6.6 billion, making it the stablecoin with the largest outflow. In contrast, the total supply of USD1 increased from $4.1 billion to $4.6 billion, with an inflow of $0.5 billion, making it a stablecoin that grew counter to the market. This growth mainly relies on USD1's interest subsidy activities on multiple CEXs.

USD1-0.02%
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Can'tSleepWithoutSigningThe
· 6h ago
The siphoning effect of US stocks is too strong, and crypto has become the blood bag.
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TheRetreatButtonIsVeryLarge.
· 6h ago
Stablecoin total supply shrinks by 10 billion, a harbinger of liquidity crisis.
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SentimentIndicatorHarvester
· 6h ago
USD1 rose against the trend, propped up by subsidies. How long it can last is questionable.
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GateUser-dce566e8
· 6h ago
USDC outflow of 6.6 billion, institutions pulling out? Something feels ominous.
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PixelatedDriedFish
· 6h ago
Lost badly in the past half year, all the money went to US stocks—who can stand this?
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