Analysts at Matrixport reported a notable increase in stablecoin issuance, reaching levels last seen in March and April 2024.
They believe this indicates fresh inflows of fiat money into the crypto market, which could be a bullish signal for Bitcoin. Experts point out that a similar spike in February led to a significant rally in Bitcoin, and the current trend could follow suit.
Stablecoin issuance surged particularly after the FOMC meeting in July, reflecting growing institutional confidence in favorable economic conditions.