The ATH is around $188b. About $4b left. Thether(USDT) is dominating most stable coin market cap. It's 70% approximately.
As I previously said it, it represents the liquidity of the crypto market. It's like fuel to make it bullish. Most alts have been recovering around 365 MA(Moving Average) lines. But, there's a long way to go.
When it breaks the ATH, Crypto Total 2 Market Cap will also break this year's ATH. I assume it will occur next month, if the liquidity is inflowing into the stablecoins market.