The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month and gemini dollar’s market capitalization slid by 1.5%.
$3 Billion in Dollar-Pegged Tokens Erased in 44 Days as Stablecoin Swaps Represent Nearly 80% of Global Crypto Trade Volume
The overall value of the top stablecoins by market capitalization has shed roughly $3 billion during the last 44 days or since Dec. 15, 2022. At that time, the stablecoin economy was worth $141.07 billion. On that day, stablecoin swaps represented $44.55 billion of the $53.91 billion in global trade volume.
The total market capitalization of the entire stablecoin economy on Jan. 28, 2023.
After losing more than $3 billion, the…
