Stablecoins, market capitalization recovering: a sign of a bull market

The market capitalization of stablecoins, which are classified as an indicator of liquidity in the cryptocurrency market, has recently shown signs of recovery.
CoinMarketCap, a cryptocurrency data company
CoinMarketCap reportedly interpreted the recovery in stablecoin market capitalization as a "bull market signal."
"The market capitalization of stablecoins has increased to $172 billion," said Ethereum CEO Liu. "Stablecoins have been gaining momentum as the price of Bitcoin has risen.
"When it is strengthened, it should be seen as a huge cash reserve that can be immediately deployed," he said. "Some stablecoins are being used in DeFi (Decentralized Finance)."
But the scale of liquidity is so great that if cryptocurrency prices start to rise again, stablecoins could ignite the upswing," he said. "Especially stablecoins stored in cryptocurrency exchanges."
"Bullet coins are easier to bring to the market quickly," he explained. "Past data shows that the rise in stable coins tends to precede price increases, and this year, the number of stable coins stored on exchanges has increased.
"The number of stablecoins registered increased by 20 percent," he said, adding, "This is likely to be a major driving force in the bull market."