ChainThink report, March 14: According to data from DefiLlama, the total market capitalization of stablecoins across the network stands at $31.59 billion, representing a 0.93% increase over the past week. Among them, USDC's market cap is approaching an all-time high of nearly $80 billion, accounting for approximately 25% of the total market share.

Dubai-based analyst Rami Al-Hashimi links this surge in demand to capital outflows from the UAE. Dubai property prices have declined by approximately 27% this month, with the DFM Real Estate Index—tracking publicly listed real estate and construction firms—falling from a recent peak of around 16,800 points to roughly 11,516 points, a drop of about 31%. The current demand for USDC on Dubai’s OTC platforms has exceeded supply, prompting some real estate sellers to begin accepting cryptocurrency payments, offering buyers who pay in BTC a discount ranging from 5% to 10%.