Core Scientific to Acquire Polaris for $421 Million

CryptoQuant analyst Darkfost stated that the total market value of stablecoins has decreased by $14 billion since May, and although it rebounded by $4 billion to $270 billion in September, the current liquidity is still insufficient to support BTC reaching a new high.

NEAR Protocol co creator Illia released a developer project concept on X platform, stating that in the past few weeks, a large number of new and old developers have been building on NEAR, making development easier. The key now is what to do and how to obtain user distribution.

[Stablecoin Market Cap Recovers Slowly, Liquidity Constraints Limit Bitcoin's Break to New Highs] CryptoQuant analyst Darkfost stated that the stablecoin market cap has been recovering slowly, shrinking by $14 billion since May this year. Although the market cap of stablecoins has grown by $4 billion since September, rebounding to $270 billion, the overall recovery remains weak. The market still requires larger-scale liquidity support to drive Bitcoin to reach a new all-time high.

The BlackRock Bitcoin ETF has a net purchase value of $1.57 billion in Bitcoin in the past month, and currently IBIT holds over 800000 Bitcoin worth approximately $67.87 billion.

CryptoQuant analyst Darkfost pointed out that the total market value of stablecoins has shrunk by $14 billion since May, increased by $4 billion since September, and rebounded to about $270 billion. Currently, the recovery momentum is weak.