ChainCatcher news, according to CryptoQuant CEO Ki Young Ju, the current altcoin season is no longer defined by the rotation of Bitcoin assets. The increase in altcoin trading volume is not driven by BTC trading pairs, but rather by stablecoin and fiat trading pairs, reflecting real market growth rather than an asset rotation phenomenon.

ChainCatcher news, Sonic Labs (formerly Fantom) has announced a strategic partnership with the cross-chain interoperability protocol Owlto Finance for its newly launched layer network Sonic. Owlto Finance will provide stablecoin liquidity support for Sonic, allowing users to access cross-chain assets through Owlto.Owlto Finance is an intent-driven full-chain liquidity protocol, with over 2 million users from more than 200 countries and regions, and has now integrated over 60 chains within the BTC, ETH, SOL, AVAX, and TON ecosystems.

ChainCatcher news, according to Decrypt, CryptoQuant analysts pointed out that the liquidity of stablecoins has not fully recovered, especially USDT. Only after the recovery can the price of Bitcoin rise further. If there is not enough stablecoin liquidity flowing in the crypto ecosystem, the buying and selling of Bitcoin may decrease. Therefore, according to their analysis, the price of Bitcoin may face obstacles.Since the launch of the Bitcoin spot ETF, Bitcoin assets have been continuously rising. However, CryptoQuant suggested that without sufficient stablecoin liquidity to support Bitcoin's growth, the demand for Bitcoin ETFs may not sustain a bull market.