Since the terra stablecoin debacle in May, the top market capitalization stablecoins have dropped 10.66% from $171.37 billion to $153.09 billion today. Over the past two months, the top market capitalization stablecoins have barely grown, hovering at $153 billion since mid-July.
For More Than 2 Months Stablecoin Market Caps Stagnate Seeing Little Growth
Following a rise, the last few months have seen slowing growth in the stablecoin economyin mid-April 2022, the stablecoin economy approached the $200 billion mark for the first time in history, but after Terra’s stablecoin fiasco, more than$35 billiondisappeared from the stablecoin economy by May 13, 2022. on May 12, 2022, the stablecoin economy was 10.66% larger than it is today. was $171.37 billion .
By July 7, the stable coin economy had declined to $154 billion according to statistics stored by archive.org via coingecko.com. The stablecoin economy has remained stagnant in growth for the past 73 days. Tether (USDT) has risen 0.7% over the past month, while the largest stablecoin market cap, USD Coin (USDC) declined 4.9%. Binance Stablecoinis BUSD (Buzzed) increased 11.1%, while DAI, FRAX, and TUSD decreased over the past 30 days.
Pax dollar (USDP) rose 19.7% over the past month, while neutrino usd (USDN) fell 9.5%. Besides BUSD and USDP, the cello dollar (CUSD) rose 7.1%, one of the only stablecoin market valuations to grow. The majority of stablecoins within the stablecoin economy have seen their market valuations fall over the past month. Additionally, of all the stablecoins currently in existence,andboth USDTand USDCrepresent 77.26% of the total. which equates to $153 billion stable coin economy.
Tether (USDT) represents 6.761% of the overall net crypto economy of $1 trillion, while USD Coin (USDC) is equivalent to 4.995%. Although the stablecoin economy has shown stagnant growth over the past 73 days, stablecoins still represent the majority of global crypto trading volume. Today, of the $50.55 billion in global crypto trading volume, $37.68 billion is settled in stablecoin assets. Stablecoin trading volume represents 74% of global crypto trading volume on Sunday, September 18, 2022.
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