Stablecoins are a "safe haven" in the crypto assets market, typically pegged to fiat currencies, providing lower fluctuation. During market turbulence, investors often shift their funds into stablecoins to drop risk. Therefore, the supply of stablecoins becomes a very important market indicator.

I pay special attention to the changes in stablecoin supply, as it directly reflects the direction of capital flow in the market. If the market experiences a sharp drop or fluctuation, an increase in stablecoin supply indicates a large amount of capital flowing into safe-haven assets, and the market may face panic or risk-averse sentiment; conversely, if the stablecoin supply decreases, it may indicate a recovery in market sentiment, with investors willing to transfer funds out of safe-haven assets and reallocate into risk assets.

When assessing the supply of stablecoins, I focus on its relationship with the price trends and trading volume in the coin market. If the supply of stablecoins increases while market prices continue to decline, it usually indicates that market panic is intensifying; if the supply of stablecoins decreases and prices rebound, it may be a signal of market recovery. #市场观测指标分享