The stablecoin economy continues to dry up with over $3 billion erased from the stablecoin market ecosystem in the past 44 days. Statistics show that the market valuation of tether has increased by 2% over the past 30 days, while usd coin market capitalization has increased by 2.9%, BUSD valuation has decreased by 7.2% over the past month, and gemini dollar market capitalization has decreased by 1.5%.
$3 billion in dollar-pegged tokens were erased in 44 days, and stablecoin swaps account for nearly 80% of global crypto trading volume
The overall value of the top market cap stablecoins has decreased by roughly $3 billion over the past 44 days or sinceDecember 15, 2022. At that time, the value of the stablecoin economy was $141.07 billion. On that date, stablecoin swaps accounted for $44.55 billion of the $53.91 billion in global trading volume.
After a loss of over $3 billion, the stablecoin economy was valued at$138.07 billion
statistics show thatusd coin (USDC)lost 2.9% in the past month, while BUSD lost the most, down 7.2% in 30 days. BUSD, a dollar-pegged tokenmanaged by Paxos in the Binance family, has seen a significant number of redemptions in recent months. At the time of writing, the overall market capitalization of USD-valued BUSD is $15.8 billion.
USDC’s market cap on Saturday was about $43 billion; on December 15, 2022, its valuation was about $45 billion. Similarly,themarket capitalization of the Gemini Dollar (GUSD) was about $571 million today, compared to about $491 million 44 days ago. There were a few stablecoin projects that saw their market capitalization fall, such as tether (tether), DAI (DAI), trueusd (TUSD), and pax dollar (USDP) increased.
Tether (USDT)saw a 2% increase in coins in circulation over the past 30 days. MakerDAO’s. DAIrose 1% andTrueusd (TUSD)gained 25.3%. pax dollar (USDP) rose 5.1% and Tron’s USDD saw a small increase of about 0.6% over the past 30 days. liquidity usd ( LUSD) has managed to rise 24.4% over the past month, while Abracadabra’s stablecoin MIM has gained 3.9%.
Tens of billions of stablecoin assets have been removed since last year, but they still represent a dominant force in the crypto economy; since May 2022, three stablecoin assets have remained in the top 10 in the market.