EMC Labs: Stablecoins recorded net inflows for the first time in the year in October, adding $993 million

Crypto fund company EMC Labs pointed out in its October briefing that last month USDT saw an inflow of US$1.759 billion, USDC saw an outflow of US$887 million, and the total net inflow of stablecoins was US$993 million. On October 15, stablecoins turned from outflow to inflow, and BTC started a surge mode the next day. USDT, mainly used in Asia, Europe, and the Americas, was the direct cause of this round of rise. In the first 10 months, stablecoins continued to outflow US$13.8 billion. October was the first month to record net inflows. This net inflow may become an inflection point, which would mean the end of the bear market for stablecoins. In the 2023 monthly report, EMC Labs judged that the data on the Bit Network chain continues to improve, BTC has broken through the box suppression, and the market outlook is expected to fluctuate upward along the channel.