#稳定币发展# The joint statement issued by Hong Kong regulators is worth following. The stablecoin market has recently seen increased Fluctuation, and regulators are calling on investors to remain rational and avoid blindly chasing the price or selling with bearish market. Data shows that the market capitalization of stablecoins is still rising as a proportion of the overall crypto market, but Liquidity indicators are showing signs of deterioration. It is recommended to closely track changes in stablecoin supply and on-chain capital flows, especially large transactions, to gauge market sentiment and potential risks. In the short term, the stablecoin market may continue to face pressure, and investors should operate cautiously and control risk exposure.