ChainCatcher Message: Matrixport released a daily analysis indicating that while the supply of stablecoins continues to expand, the rolling growth rate over the past 12 months peaked and fell in late October. Data shows that the annual growth rate of USDT has decreased from its October peak of 123% to the current 33%, while the annual growth rate of USDC has fallen from its peak to 52%. Analyst Markus Thielen pointed out that the inflow of stablecoins is cooling alongside the new liquidity entering the crypto market, and the Fed's shift to a more cautious outlook is one of the important triggers for the weakening of liquidity.

Although the absolute new scale remains considerable, the overall liquidity environment may be weaker than previously expected.