For Bitcoin, the market’s stablecoins may hold the key for another bull run

After the market frenzy observed a couple of days back, the Bitcoin market has been preparing for another rally. This bullish sentiment was rising in the market, as the stablecoins in the exchanges hit an all-time high. According to the data provider CryptoQuant, the stablecoin holdings on exchanges have reached a peak of $4.98 billion on 30 January.
Source: CryptoQuant
The above chart noted that the stablecoins on the exchanges remained stable until late December but towards the end, they started to rise. The exchanges’ holding has since been rising and has not hit a cap yet.
The current va