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ChainCatcher reported that the total market capitalization of stablecoins has surpassed $310 billion, setting a new all-time high. It currently stands at $310,788,054,325, with a 24-hour market cap increase of 0.3%. Among them, Tether (USDT) ranks first with a market cap of $179.969 billion, while USDC ranks second with a market cap of $75.835 billion. Historical data shows that the total market capitalization of stablecoins surpassed $300 billion around September 25, which means it has grown by approximately $10 billion over the past three weeks.

Jinse Finance reported that Garrett Jin, the whale who accurately shorted before the previous crash and publicly sold over $4.23 billions worth of BTC to switch positions to ETH, stated: Our clients hold a large amount of spot cryptocurrencies, and the short positions before the crash were only partial hedges. If liquidity is sufficient, we could build more positions. Considering the losses in spot positions, clients are actually bearing losses overall. We are optimistic about the crypto market in the long term, but that doesn't mean we won't hedge in the short term. If shorting during price drops is to be condemned, then should longs during price increases also be criticized? Currently, the crypto market is highly correlated with the US stock market. If you don't keep up with the latest information, you'll fall behind. Everyone wants to profit from the market—do you have any expertise or training that allows you to beat the market? If you can't answer that, then you are the source of profit. There aren't that many conspiracies in this world, so stop making excuses for your ignorance and lack of professionalism.