The stablecoin market is flat (and even slightly down) since Octor. What's going on and should we panic? A 🧵 (1/7)

The stablecoin market is still recovering from the great liquidation in October. (2/7) -Ethena supply is down over $8bn, while Tether supply is up almost $10bn -PYUSD also seen increases as DeFi use cases take off.

The flat stablecoin supply is impressive when you consider trading volume is down 40% since the great liquidation (3/7)

But there are catalysts that could revive growth. First, Rain raised a massive Series C after seeing astonishing growth (4/7) Rain Card On-Chain Spend

Also, institutions are coming? More and more stablecoins could be used for traditional trading