Stablecoin Money Printer Is On, Where Is The Rally?
We are witnessing a profound shift in capital flow dynamics. For years, the thesis was simple: when stablecoin issuers like $USDT start printing aggressively, a massive market surge is imminent. The new capital is supposed to flood into risk assets like $BTC, driving up valuations.
But the script has been flipped. Stablecoin market caps have been expanding steadily for months, yet the anticipated parabolic rally remains stubbornly absent. This decoupling is the most important anomaly to track right now. It suggests that newly minted capital is either being held in reserve accounts, used primarily for OTC deals that do not immediately hit spot exchanges, or is flowing into low-risk yield strategies within DeFi rather than risk-on speculative trading. The dry powder exists, but the trigger is being held. Understanding where this money is actually landing is crucial for predicting the next major move. The fuel gauge is full, but the engine is idling.
This is not financial advice.
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