Matrixport released today's chart, saying that the performance of stablecoins is one of the important indicators that reflect market trends. Generally, the increase in stablecoin trading volume indicates that market sentiment is bullish, while the growth of Tether's market value reflects the influx of more fiat money into the cryptocurrency ecosystem.
However, when these trends reverse, it often means that Bitcoin and the entire crypto market have entered a period of adjustment. Recently, Tether's market value has declined and trading volume has also decreased, but it may be too early to assert that the market has turned bearish. This change may just be a seasonal downturn during the Christmas holiday.
As the new year begins, we will soon see whether the market will regain bullish momentum.