Wintermute: Stablecoin market value exceeds $164 billion, supporting the bullish outlook of the market

According to DefiLlama and Wintermute data reported by Jinse Finance, the total market value of stablecoins has risen above $164 billion for the first time since the collapse of Terra in May 2022. This metric has been hovering around the $160 billion mark. Wintermute stated in a report that this growth "indicates an increasingly bullish outlook among investors. The increase in stablecoin supply indicates that funds are being deposited into the on-chain ecosystem to generate economic activity, either through direct on-chain purchases that can catalyze price increases or through yield-generating strategies that can improve market liquidity. This activity will ultimately promote positive on-chain growth." Nansen, a blockchain analytics firm, expressed a similar bullish sentiment about the growth of stablecoin market value.