#稳定币发展 Analyzing recent on-chain data from HuiWang Payment, it was found that its USDT balance has sharply decreased. Since October, the Ethereum network activity has almost exhausted USDT, while the Tron network has shown a gradual shutdown. At the end of November, the daily USDT transfer-out volume plummeted from 41.83 million to 7.17 million, and completely ceased small withdrawals after December 1. Currently, only 990,000 USDT remain on the chain, which aligns with the official announcement of ceasing operations. This large-scale capital outflow pattern typically indicates a potential liquidity crisis. It is recommended to closely monitor subsequent developments and assess the potential impact on the overall stablecoin market.

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