Since the Terra stablecoin fiasco in May, the top stablecoins by market capitalization dropped 10.66% from $171.37 billion to today’s $153.09 billion. During the last two months, the top stablecoins by market capitalization have seen little growth remaining at $153 billion since mid-July.
Stablecoin market remained stable for over 2 months seeing modest growth in capital
After a significant climb since mid-2020, the stablecoin economy has slowed growth over the past few months. By mid-April 2022, stablecoin economy Close $200 billion limit for the first time in history, but exceeded after Terra’s stablecoin failure $35 billion Stablecoins disappeared from the economy by May 13, 2022. On May 12, 2022, the stablecoin economy was 10.66% larger than it is today. $171.37 billion,
By July 7, the stablecoin economy was down to $154 billion, according to stats saved by archive.org via coingecko.com. The stablecoin economy has remained stagnant in terms of growth during the past 73 days. Tether (USDT), the largest stablecoin market cap, has grown slightly rising 0.7% during the past month, while usd coin (USDC) saw a 4.9% decline. Binance’s stablecoin BUSD saw an 11.1% increase, while DAI, FRAX, and TUSD declined during the last 30 days.
The Pax Dollar (USDP) jumped 19.7% higher last month, but the Neutrino USD (USDN) lost 9.5%. Apart from basudi And the USDP, the Celo Dollar (CUSD), was one of the only stablecoin market valuations that saw a 7.1% increase in the CUSD. A lion’s share of stablecoins within the stablecoin economy saw their market valuation decline over the past month. Furthermore, of all the stablecoins that exist today, both USDT and USDC are worth 77.26%. $153 billion stable currency economy.
Out of the entire crypto economy’s net value at $1 trillion, tether (USDT) represents 6.761%, while usd coin (USDC) equates to 4.995%. While the stablecoin economy has seen stagnant growth during the last 73 days, stablecoins still represent a great deal of the global crypto trade volumes worldwide. Today, $37.68 billion of the $50.55 billion in overall global crypto trade volume is settled in stablecoin assets. The stablecoin trade volume equates to 74% of the global crypto trade volume on Sunday, September 18, 2022.
