Market liquidity may not be as pessimistic

Since December 20, the total supply of USDT has decreased by more than 1.5 billion, while the supply of USDC has increased by more than 1.4 billion. The decrease in USDT is quite close to the increase in USDC.

Interestingly, the timing of the reduction in USDT supply is also quite close to the timing of the USDC issuance, suggesting that this may not be a mere coincidence, and it is possible that some large funds have converted their USDT into USDC. If this is the case, the liquidity situation in the crypto market may not be as pessimistic as previously thought.