CoinDesk reports:

Foreign media report that the total supply of stablecoins remains high at around $315 billion, but this liquidity has not significantly boosted the crypto market as it did in the previous cycle. A more direct change has occurred on the exchange side: funds have not drastically exited the ecosystem, nor have they consistently flowed into high-risk assets.

Deposits to the exchange have clearly slowed down.

The article noted that around February of this year, the monthly outflow of USDT and USDC briefly approached $8 billion. Since then, the outflow rate has slowed to approximately $4 billion, indicating that the pressure for capital withdrawal has eased compared to before.

In contrast, stablecoin deposits received by…