Analysis: Surge in stablecoin and Bitcoin transactions could provide basis for BTC gains in coming weeks

Data from CryptoQuant shows that stablecoin liquidity continued to grow to a record $169 billion at the end of September, up 31% year-to-date (YTD). The dominant players are still Tether's USDT, whose market capitalization increased by $28 billion to nearly $120 billion, accounting for 71% of the market share; and Circle's USDC, whose market capitalization increased by $11 billion to $36 billion, up 44% year-to-date, accounting for 21% of the market share. The record number of US dollar stablecoins and the surge in large Bitcoin transactions may lay the foundation for a broader rise in BTC in the coming weeks, keeping the asset's bullish seasonality in October intact. (Coindesk)