Odaily News Julio Moreno, head of research at CryptoQuant, said the rise in the market value of stablecoins over the past few months could contribute to the potential uptrend of Bitcoin and other major cryptocurrencies. The growing market value of stablecoins is a key factor driving cryptocurrency prices higher because they provide liquidity to the crypto market. Data shows that stablecoins have seen net inflows into CEXs over the past two months. "Stablecoins on exchanges have grown, and CEX's USDT reserves have also reached an all-time high of $22.5 billion so far in 2024," Moreno said. Moreno pointed out that the market value of stablecoins has reached an all-time high this year, and "the total market value of stablecoins is positively correlated with rising Bitcoin prices." (The Block)