In the third quarter of the year, the cryptocurrency sphere experienced fascinating growth, predominantly characterized by a sharp rise in stablecoin inflows. Data revealed an influx of $45.6 billion, marking a notable 324% jump compared to the previous quarter. Dominant players in this upswing included Tether (USDT), USD Coin (USDC), and the emerging Ethena (USDe). Despite this significant increase, a contrasting trend was observed in the reserves held on exchanges, with a substantial outflow reported.