Santiment: The decline in stablecoin market capitalization indicates that funds are flowing into gold and silver, rather than Bitcoin $BTC
The crypto analysis platform Santiment pointed out that the total market capitalization of stablecoins has decreased by $2.24 billion in the past 10 days, which may indicate that funds are flowing out of the crypto ecosystem or delaying market recovery.
The agency's analysis suggests that this portion of funds appears to have shifted towards traditional safe-haven assets like gold and silver, pushing their prices to new highs, while Bitcoin, the overall crypto market, and stablecoin market capitalization have seen a pullback.
Santiment stated that the decline in stablecoin market capitalization reflects that investors are cashing out into fiat currencies rather than preparing to buy the dip, and the rising demand for precious metals shows that the market is more inclined towards safe havens. Historical data shows that a strong recovery in the crypto market often starts with the stabilization and rebound of stablecoin market capitalization, marking the entry of new funds and the restoration of confidence. Prior to this, risk assets like altcoins may continue to face pressure,
