$14 Billion Erased from Stablecoin Market Cap Since May

The total market capitalization of stablecoins has declined by $14 billion since May, according to CryptoQuant analyst Darkfost.

This represents a significant capital outflow from the crypto market, which has struggled to recover due to insufficient liquidity inflow. Despite this, there have been some signs of improvement in recent weeks.

Since September, the stablecoin market cap has increased by $4 billion, bringing it back up to approximately $270 billion. However, the recovery remains weak and stronger momentum is still needed to propel Bitcoin to new highs.