Recent data from CryptoQuant reveals a slowdown in the growth of stablecoin liquidity. Weekly market capitalization expansion has reduced to approximately $1.1 billion, significantly lower than the previous surge observed during Bitcoin’s price rally in late 2024 (which saw growth exceeding $4 to $8 billion). 60-day USDT growth has reached around $10 billion, a decrease from its peak of over $21 billion. Despite this deceleration in issuance, stablecoin reserves on exchanges reached a record high of $68 billion on August 22, with USDT holding approximately $53 billion and USDC accounting for $13 billion. While market capitalization growth remains positive, the decline in pace suggests a potential shift towards consolidation rather than sustained exponential expansion.