The stablecoin economy has seen major change over the last month, with a total of $2.4 billion being withdrawn since March 31. USDC, BUSD, DAI and TUSD all experienced net redemptions, whereas Tether (USDT) saw an increase of 2.3%. Tether now represents a market capitalization of $81.39 billion, which accounts for 61.65% of the entire stablecoin economy's $131.21 billion value. Not all stablecoins experienced losses, as USDP, GUSD and LUSD increased by 33.9%, 18.1% and 2.4% respectively. This phenomenon shows the variety of performances of different tokens in the space, indicating a strong sense of dynamism. Though not all stablecoins have done well, the global stablecoin economy remains strong with a market value of $131.21 billion, representing 11.02% of the overall cryptocurrency valuation.
Emma Myers
- 2023-04-25
The Global Stablecoin Economy
The stablecoin economy has seen major changes over the last month, with a total of $2.4 billion being withdrawn since March 31. Tether (USDT), USDC, BUSD, DAI, TUSD and other stablecoins experienced increases and decreases in market capitalization. Learn more about the global stablecoin economy in this article.
