Since the Terra stablecoin fiasco in May, it has dropped 10.66% in market capitalization from $171.37 billion to $153.09 billion. Over the past two months, the most stable coin has seen little growth in market capitalization, remaining at $153 billion since mid-July.
For more than 2 months, the Stablecoin market has seen little growth
In the year Following a significant rise since mid-2020, the stablecoin economy has seen slow growth over the past few months. A stable coin economy in mid-April 2022 It is close $200 billion range for the first time in history, but following Terra’s stablecoin fiasco, more 35 billion dollars In the year On May 13, 2022, it disappeared from the stable coin economy. On May 12, 2022, the stablecoin economy was 10.66% higher than it is today. 171.37 billion dollars.
In the year On July 7, the stable coin economy decreased 154 billion dollars, via coingecko.com according to statistics maintained by archive.org. The Statcoin economy has stagnated in terms of growth over the past 73 days. Tether (USDT)While the market value of the largest stablecoin, grew slightly 0.7% in the last month USD Coin (USD) It showed a decrease of 4.9 percent. Binance’s stablecoin BUSD It has gained 11.1%, while DAI, FRAX and TUSD have declined over the past 30 days.
Pax Dollar (USDP) rose 19.7% last month, while Neutrino USD (USDN) fell 9.5%. in addition BUSD And USDP, celo dollar (CUSD) CUSD was one of the stable coin market values that rose as it increased by 7.1%. The lion’s share of stablecoins in the stablecoin economy have seen their market value slide over the past month. Additionally, both USDT and USDC are equivalent to 77.26% of the stablecoins available today. 153 billion dollars Stable coin economy.
Of the total crypto economy net worth of $1 trillion, Tether (USDT) represents 6.761%, usd coin (USDC) equals 4.995%. While Statcoin’s economy has seen slower growth over the past 73 days, the stablecoin still represents the vast majority of global crypto trading volumes worldwide. Today, $37.68 billion of the $50.55 billion total global crypto trade volume is invested in stablecoin assets. The trading volume of the stablecoin on Sunday, September 18, 2022 is equal to 74% of the global crypto trading volume.
What do you think about the development of the stable coin economy in the last 73 days? Let us know what you think about this in the comments section below.
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