ChainCatcher news, DefiLlama data shows that the total market capitalization of stablecoins has surpassed 210 billion USD, reaching 212.989 billion USD, a new all-time high.In the past week, the total market capitalization of stablecoins grew by 3.02%, with USDT's market share at 65.18%.

ChainCatcher news, according to Cointelegraph, analysts warn of a potential "huge sell-off" for Bitcoin as it fails to break through a key resistance level. Bitcoin has dropped 15% after reaching an all-time high of around $108,365. With the rising market share of USDT, analysts predict that Bitcoin may face further downward pressure. Analyst The ForexX Mindset points out that the rebound in USDT market share (USDT.D) and its negative correlation with Bitcoin could trigger a sell-off.Currently, Bitcoin is trading close to $96,000, and if it corrects further, its downward target may be the 20-week exponential moving average (EMA), around $81,500. If it breaks below this level, it may test the 50-week EMA at approximately $67,700.

ChainCatcher news, according to market data, the market share of USDT has risen to 5.42%, reaching a new high since May 1 of this year.

ChainCatcher news, DefiLlama data shows that the total market capitalization of stablecoins has reached $130.78 billion, with USDT's market capitalization at $91.58 billion and a market share of 70.03%.