CW8900’s Nov. 2 CryptoQuant analysis put the monthlong decline in stablecoin market capitalization at $6.9 billion, alongside persistent outflows and a bearish period for Bitcoin (BTC).
The analysis listed capitalization at $270.3 billion on Oct. 1 and said it had since fallen to $263.4 billion.
Market capitalization reflects the combined value of stablecoins, while exchange reserves count tokens held on trading platforms. An earlier EconoTimes report on exchange reserves put that separate measure at $60.62 billion on Oct. 24, with net outflows of $34.2 million that day and a seven-day average of $93.9 million in outflows.
EconoTimes also previously covered a weekly $3.4 billion decline in stablecoin market value, while stablecoin capitalization on Arc rose 30.23%.
CW8900 said market sentiment could improve if stablecoin flows turn positive again, associating bullish periods with capital moving into the market.
