#StablecoinSurge Stablecoin transfers have surged, indicating potential accumulation by institutional buyers and high-net-worth individuals. This surge is accompanied by rising active addresses, confirming heightened network activity and market absorption ¹.

The stablecoin market has grown significantly, with its market capitalization increasing from $122 billion in October 2023 to $157 billion in April 2024 ². However, spot exchange reserves have dropped to a three-year low, which may impact the market ³.

Notably, a new stablecoin, USDe, has quickly accumulated a market cap of $2 billion, posing a potential threat to established stablecoins like USDT and USDC ⁴.

This surge in stablecoin activity may trigger a rapid price reversal in the futures market, especially if a short squeeze occurs ¹.