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Since the Terra stablecoin fiasco in May, the top stablecoins by market cap have fallen 10.66% from $171.37 billion to $153.09 billion today. Over the past two months, the top stablecoins by market capitalization have seen modest growth to $153 billion since mid-July.

For more than 2 months, Stablecoin market caps stagnate and see little growth

After the significant rise since mid-2020, the stablecoin economy has seen a slowdown in growth over the past few months. In mid-April 2022, the stablecoin economy approach the $200 billion range for the first time in history, but after Terra’s stablecoin fiascomore … than $35 billion disappeared from the stablecoin economy on May 13, 2022. On May 12, 2022, the stablecoin economy was 10.66% larger than it is today at $171.37 billion.

Stablecoin Economy Growth Stalls for 73 Days, USDC Market Cap Drops 5%

As of July 7, the stablecoin economy had fallen to $154 billion, according to statistics recorded by archive.org via coincko.com. The stablecoin economy has remained stagnant in terms of growth for the past 73 days. Tether (USDT)the largest market cap stablecoin, edged up 0.7% over the past month, while usd coin (USDC) recorded a decrease of 4.9%. Binance’s stablecoin BUSD registered an increase of 11.1%, while DAI, FRAX and TUSD declined in the last 30 days.

The dollar pax (USDP) jumped 19.7% last month, but the neutrino usd (USDN) fell 9.5%. Outraged BUSD and USDP, celo dollar (CUSD) was one of the only stablecoin market valuations to rise, with CUSD registering a 7.1% increase. The lion’s share of stablecoins within the stablecoin economy has seen its market valuations decline over the past month. Moreover, on all the stablecoins that exist today, both USDT and USDC equivalent to 77.26% of the $153 billion economy of stablecoins.

On the net worth of the entire crypto-economy at $1 trillion, tether (USDT) is 6.761%, while the USD coin (USDC) is 4.995%. While the stablecoin economy has seen stagnant growth over the past 73 days, stablecoins still account for a large portion of global crypto trading volumes around the world. Today, $37.68 billion of the $50.55 billion in overall global crypto exchange volume is settled in stable assets. Stablecoin trading volume equals 74% of global crypto trading volume on Sunday, September 18, 2022.

Keywords in this story

Altcoins, AID, FRAX, growth, increase, emission, emission levels, Magic internet money, M.I.M., Neutrino Protocol, Stable economy, stable market capitalization, Stable Coins, Swelling, Earth, Attached, market capitalization, USDC, USDC market valuation, USDN, USDT

What are your thoughts on the stagnant growth of the stablecoin economy over the past 73 days? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Manager at Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.




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