The market liquidity has reached a new all-time high (ATH), according to data from analytics platform CryptoQuant, and the cryptocurrency ecosystem is witnessing more remarkable capital inflows than ever before.
https://x.com/cryptoquant_com/status/1767273084791263544?s=20
Stablecoin liquidity and altcoin boom
The total circulating supply of ERC-20-based stablecoins is set at an ATH of 76,150,161,366.21, up 0.44%, according to statistics from CryptoQuant. According to a CryptoQuant research, cryptocurrencies, including Bitcoin (BTC), stand to gain from this surge in stablecoin production.
Although its ATH sojourn has been a well-observed pattern over the last week, Bitcoin continues to be the essential anchor for the expansion of the larger market, and CryptoQuant predicts that the altcoin bubble is about to arrive.
The most valuable of the bunch, Ethereum (ETH), is about to get an important update called the Dencun Upgrade, which will greatly optimise layer-2 protocol scalability and transaction costs in order to promote more advanced usage.
Other notable altcoin moments
Even if the association between altcoins and Bitcoin has contributed to most of their growth, many are not resting on their laurels because active development is still going on.
Cardano is also pushing for the introduction of additional engines, the most cutting-edge of which are Hydra and Midnight Protocol, which might completely alter the landscape for the expansion of its ecosystem.
Cardano is a more well-known cryptocurrency, but meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) are gaining so much traction that they may even displace Cardano from the top 10 most valuable digital currencies. Since they may combine the excitement around Bitcoin with their own internal drivers to print enormous values, altcoins often have the advantage to lead this bull cycle.
