PANews reported on February 11 that Glassnode posted on the X platform that since the beginning of 2025, the circulating supply of stablecoins has increased by $16.97 billion, from about $194.2 billion to about $211.2 billion. However, the growth rate fluctuated, slowing down in early 2025, but picking up again in February. Throughout November and December last year, the daily growth of stablecoins was about $450 million. By January of this year, the growth rate dropped to about $400 million per day, but it rebounded in February, with a daily growth of $541 million. The stablecoins involved include: USDT, USDC, USDE, DAI, FDUSD, PYUSD, TUSD and FRAX. In mid-January, momentum also accelerated, with the 7-day average rising above the 30-day simple moving average (SMA), indicating an increase in short-term demand. This indicates that liquidity is expanding again after a period of deceleration.