TechFlame reports that according to CryptoQuant's monitoring, stablecoin liquidity growth has slowed, and the weekly market capitalization expansion has fallen to about 1.1 billion US dollars, which is a significant decrease from 4 to 8 billion US dollars per week during the Bitcoin rise period at the end of 2024. Furthermore, USDT's 60-day growth was around $10 billion, lower than the previous peak of more than $21 billion. Despite the slowdown in issuance, total exchange stablecoin reserves reached a record high of 68 billion US dollars on August 22, of which USDT accounts for 53 billion US dollars and USDC accounts for 13 billion US dollars. Stablecoin market capitalization growth remains positive, but the slowdown in growth means that market liquidity support is weakening, and they are more inclined to enter the consolidation phase rather than a continuous parabolic rise.