#内容挖矿＃CHZ
The liquidity during the holiday is really too poor. This difference is not only reflected in the transaction volume, but also in the market value of the main stablecoins. Although the market value of USDT is still on the rise, its increase is not high, and considering that the USDT entering the currency market may be less than half, the actual help may be extremely limited.
The second is the more representative USDC. This issue has been mentioned many times. Since the rise this time is mainly driven by #BTC and#ETH(expected) spot ETFs, and spot ETFs have stimulated the sentiment of American investors, the main active hours and users of USDC are also mostly American investors, so the changes in the market value of USDC can better reflect the changes in the purchasing power and purchasing sentiment of American investors.
The change in USDC market value in the past week is the largest weekly decline in the past six months, with a decrease of nearly $700 million in a week. This is not a good sign, indicating that more American investors are beginning to withdraw funds from the currency market. Of course, this does not mean that the prices of BTC and ETH will inevitably fall, but it just means that the funds in the market are shrinking, showing that many American investors are worried about the subsequent trend.
We have also mentioned before that the current liquidity is largely stimulated by the passage of spot ETFs, which means that only BTC and ETH (expected) will be favored by more funds, while other ALTs may be more difficult to survive when liquidity is tight.
From the perspective of the exchange's capital stock, USDT's deposited funds in the exchange have been increasing. Combined with the changes in market value, it is very likely that ALT investors are preparing to enter the market, but may not have really entered the market yet. The situation of USDC reflects that the funds deposited in the exchange are decreasing, just like the market value, and this part of the funds may have flowed out of the stablecoin market value.
