Since the Terra stablecoin fiasco in May, the top stablecoin by market cap has fallen by 10.66% from $171.37 billion to $153.09 billion today. Over the past two months, the top stablecoins by market capitalization have seen a slight residual growth of $153 billion since mid-July.
Stablecoin Market Caps Stagnation For Over Two Months Seeing Little Growth
After a massive rally since mid-2020, the stablecoin economy has seen slow growth over the past few months. In mid-April 2022, the stablecoin economy get closer $200 billion range for the first time in history, but then Stable Tera Failuremore than 35 billion dollars It disappeared from the stablecoin economy by May 13, 2022. On May 12, 2022, the stablecoin economy was 10.66% larger than it is today. 171.37 billion dollars.
By July 7, the stablecoin economy fell to 154 billion dollars, according to statistics kept by archive.org via coingecko.com. The stablecoin economy has been stagnating in terms of growth for the past 73 days. rope (USDT)the largest stablecoin market capitalization, grew slightly by 0.7% over the past month, while USD currency (USDC) It saw a drop of 4.9%. Stable Coin on Binance BUSD It saw an 11.1% increase, while DAI, FRAX and TUSD decreased over the past 30 days.
The dollar neutrino (USDP) jumped 19.7% higher than last month, but the dollar neutrino (USDN) fell 9.5%. Next to BUSD And USDP, the celo dollar (CUSD) was one of the only stablecoin market valuations that grew, with CUSD seeing a 7.1% increase. The lion’s share of stablecoins in the stablecoin economy has seen a drop in market valuations over the past month. Moreover, of all the stablecoins out there today, both USDT The USDC is equivalent to 77.26% of 153 billion dollars stable economy.
From the net worth of the entire crypto economy at $1 trillion, Tether (USDT) represents 6.761%, while the US dollar (USDC) is equivalent to 4.995%. While the stablecoin economy has experienced stagnant growth over the past 73 days, stablecoins still account for a significant amount of global crypto trading volumes across the globe. Today, $37.68 billion of the $50.55 billion total global trade volume of cryptocurrencies has been settled into stable assets. Stablecoin trading volume is equivalent to 74% of global crypto trading volume on Sunday, September 18, 2022.
What do you think of the stagnation of stable economic growth over the past 73 days? Tell us what you think about it in the comments section below.
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