The cryptoeconomy has seen a major reduction in stablecoin market value, with over $3 billion being wiped out of the overall market in just 44 days. According to statistics, the tether market cap has experienced a 2% increase in the last month, while the usd coin and BUSD have seen a respective 2.9% and 7.2% decline in value.
$3 Billion in Dollar-Pegged Tokens Slashed in 44 Days as Stablecoin Exchanges Account for Nearly 80% of Global Crypto Trading Volume
The total market capitalization of the top stablecoins has declined to $3 billion in the last 44 days, falling from $141.07 billion on December 15, 2022. Moreover, stablecoin exchanges accounted for $44.55 billion out of the $53.91 billion global cryptocurrency trading volume.
At present, the USDC has seen a 2.9% loss in its market capitalization over the last thirty days, while the BUSD has experienced an even more substantial 7.2% drop. The Gemini Dollar, on the other hand, has seen its value decline by 1.5% in the same time frame.
