According to BlockBeats, on October 1, Matrixport released a research report today saying that recently, the amount of stablecoin minting has climbed to the highest level since the peak in March-April, indicating that new fiat money is flowing into the crypto market, which is a bullish signal. In February 2024, a similar surge in stablecoin issuance drove a sharp rise in Bitcoin prices.
If this momentum of minting continues, Bitcoin prices are expected to rise further. It is worth noting that since the FOMC meeting on July 31, the speed of stablecoin minting has accelerated significantly, reflecting the increased confidence of institutions in a low interest rate environment, which in turn boosted the optimism in the crypto market.
