[Analysis: Stablecoin Liquidity Suspected to Be Quietly Declining, Funds Shifting to Traditional Safe-Haven Assets Like Gold and Silver] Matrixport analyzed in today's chart that the 'GENIUS Act' is expected to prohibit stablecoin issuers from paying interest or returns to holders. As a result, funds may shift to yield-generating alternatives such as tokenized money market funds. Over the past six weeks, USDC has seen net redemptions of approximately $6.5 billion, leading to a contraction in stablecoin liquidity and a weakening of short-term purchasing power in the crypto market. At the same time, funds are flowing out of stablecoins and into traditional safe-haven assets like gold and silver, further reducing the supply of stablecoins. Accordingly, Circle is shifting its focus from 'market capitalization' to 'transaction activity' and is promoting the use and adoption of stablecoins in real-world scenarios through initiatives like the Circle Payment Network and partnerships with companies such as Intuit.