Analysts believe the recent correction in the digital asset market is just a temporary pause in the upward trend, indicating that the market has not reached its peak yet. The continuous increase in stablecoin supply suggests potential new capital inflows. The cumulative supply of stablecoins has now exceeded $219 billion, showing there is still room for growth. Data from IntoTheBlock indicates that in April 2022, coinciding with the start of a bear market, the supply of stablecoins was $187 billion. However, it has now reached $219 billion and continues to rise. The increase in stablecoin inflows to digital asset exchanges may indicate growing demand and buying pressure. However, the price of Ethereum (ETH) has dropped by over 52% in the past three months. After reaching $4100 on December 16, 2024, it is now at risk of falling below $1900, which is considered a strong support range. Despite the growth in stablecoin supply, the digital asset market may remain directionless until the outcome of the upcoming Federal Reserve meeting. Analysts believe the decisions made in this meeting will greatly impact the future trajectory of the crypto market. According to VanEck’s prediction, the price of Ethereum in 2025 could reach $6000 and the price of Bitcoin (BTC) could potentially reach $180,000, although short-term fluctuations will still be likely. You can track the live prices of all tokens and cryptocurrencies on the momentary price page.
