Matrixport: Stablecoin minting slows down, and the crypto market may continue to consolidate

Matrixport has released a chart report today. The data for stablecoin minting in the past 7 days shows that the speed of fiat currency inflows into the cryptocurrency market has slowed significantly before the Christmas holiday. This may be related to the Fed's shift to hawkish policies in mid-December.

Due to the continued low activity of fiat currency inflows into stablecoins, Bitcoin and other cryptocurrencies may continue to consolidate. Although the calm period of the holiday season has ended, there has not been a significant rebound in the inflow of funds into stablecoins. This indicator is still an important signal of market demand changes, as the growth of stablecoin minting usually indicates an increase in demand for the cryptocurrency market.

Currently, although stablecoin minting activity has seen a slight rebound, its sustainability is still unclear. Only when this trend continues steadily, is it possible to push Bitcoin from the consolidation phase back into a bull market.