According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the largest stablecoins accounting for $31.8 billion or 75% of the $42.17 billion in global 24-hour trade volume across the entire cryptocurrency market. In the two weeks since March 11, $7.06 billion and $351.57 million have been recovered. Meanwhile, from March 14 to March 26, the number of stablecoins in circulation increased by 6.12 billion.
Stablecoin trading changes
In recent weeks, the supply of some stablecoins has decreased while that of others has increased. Includes today’s top ten stablecoins USDTUSDC, BUSD, DAI, TUSD, FRAX, USDP, USDD, GUSD, and LUSD. according to statistics Over the past month, USDC, BUSD, and GUSD have all seen a double dip in supply. The other 10 stable assets recorded oversupply, with TUSD supply doubling or 112.3% higher than it was 30 days ago.
Among other stable assets, US dollar liquidity (LUSD) is up 16.2% and ether (USDT) increased by 12.7% over the previous month. LUSD is now valued in the market at around $267.70 million, USDTThe market capitalization of TUSD rose to $79.70 billion, and the market valuation of TUSD grew to $2.05 billion. On the other hand, the number of USDC coins in circulation decreased by 6.12 billion since March 11th. Statistics for the last 30 days show that USDC has lost 19.5% of its supply compared to the previous month.
BUSD and GUSD saw the biggest cuts, with GUSD losing 31.6% of its supply over the past 30 days. BUSD has reduced its supply by 30.6% since last month, and its market cap is just over $8 billion. According to Nansen’s Proof of Reserves tool, Binance holds $7.3 billion. The DAI stablecoin issued by Makerdao saw a 4.7% increase in trading. Over the past month, FRAX has recorded an increase of 1.9%, and USDP is up 8.5%.
What do you think the future holds for stablecoins and their role in the cryptocurrency market? Will we see continued growth and adoption or will they face new challenges and obstacles? Share your thoughts in the comments section below.
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