The total market cap of the top five stablecoins has reached a record high, according to analyst Ali Martinez. The stablecoins, including Tether's USDT and Circle's USDC, have a combined valuation of $204.7 billion, suggesting more buying power on the sidelines. Martinez also notes that decentralized protocol Ethena (ENA) is displaying bullish signals based on the TD Sequential indicator, indicating a potential rebound. Similarly, Chainlink (LINK) and Celestia (TIA) also show signs of a potential rebound based on the same indicator. At the time of writing, ENA is trading at $0.44, LINK at $14.30, and TIA at $3.11.



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