{"id":14913,"date":"2022-11-28T20:53:04","date_gmt":"2022-11-28T20:53:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/stablecoin-economy-continues-to-shrink-shedding-close-to-5-in-2-months-altcoins-bitcoin-news\/"},"modified":"2022-11-28T20:53:04","modified_gmt":"2022-11-28T20:53:04","slug":"stablecoin-economy-continues-to-shrink-shedding-close-to-5-in-2-months-altcoins-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/stablecoin-economy-continues-to-shrink-shedding-close-to-5-in-2-months-altcoins-bitcoin-news\/","title":{"rendered":"Stablecoin Economy Continues to Shrink Shedding Close to 5% in 2 Months \u2013 Altcoins Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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During the last month, the market capitalization of all the stablecoins in existence dropped by more than 2%, shedding roughly $2.98 billion since the end of October. Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last 30 days. Tether\u2019s market cap slipped from last month\u2019s $69.13 billion to today\u2019s $65.48 billion.<\/strong><\/p>\n

Stablecoin Economy Drops Lower, Tether Market Cap Sheds 5%<\/h2>\n

Statistics show that the stablecoin economy\u2019s market valuation has reduced during the last 30 days by roughly 2.02%. On Oct. 31, 2022, the stablecoin economy was valued at $147.03 billion and today, it\u2019s down to $144.05 billion.<\/p>\n

Furthermore, the market capitalization of all the stablecoins in existence is much lower than it was two months ago, as the market cap dropped by 4.83% from $151.37 billion to today\u2019s $144 billion total. Data indicates that this past month, tether (USDT<\/a>) has seen its market capitalization drop more than 5% lower from $69.13 billion to the current $65.48 billion.<\/p>\n

\"Stablecoin<\/p>\n

However, the second-largest stablecoin by market cap, usd coin (USDC) has seen its market valuation increase during the past 30 days, jumping roughly 1.5% higher. The stablecoin BUSD\u2019s valuation continues to grow month after month, and over the last 30 days, it\u2019s up 4.8%. Out of the top five stablecoins today, BUSD\u2019s market cap grew the most over the last month.<\/p>\n

\"Stablecoin<\/p>\n

Makerdao\u2019s DAI stablecoin has shed 9.7% this past month and the stablecoin\u2019s market capitalization was the biggest loser out of the top ten dollar-pegged crypto tokens. On Oct. 31, DAI\u2019s market cap was around $5.77 billion and today, it\u2019s coasting along at $5.20 billion. With tether and DAI leading the losses over the last month out of the top ten stablecoins, frax (FRAX) followed behind the two tokens shedding around 3.1% last month.<\/p>\n

Stablecoin trade volume has dropped a great deal over the last two months but the tokens still represent a majority of today\u2019s trades. For instance, on Sept. 27, 2022, stablecoins captured $205 billion out of the $225 billion in global trades. On Oct. 31, stablecoins recorded $55.91 billion in trades out of the total worldwide crypto trade volume ($71 billion).<\/p>\n

During the past 24 hours stablecoins have captured $37.73 billion and the aggregate trade volume among all the crypto coins in existence today is roughly $46.56 billion. This means out of the $46 billion in trades among all the crypto assets, stablecoins equate to 81.04% of those trades.<\/p>\n

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BUSD<\/a>, Circle<\/a>, Crypto Trade Volume<\/a>, DAI<\/a>, dollar-pegged crypto tokens<\/a>, FRAX<\/a>, makerdao<\/a>, Makerdao\u2019s DAI<\/a>, Paxos<\/a>, Stablecoin<\/a>, stablecoin asset<\/a>, Stablecoin Economy<\/a>, stablecoin trade volume<\/a>, Stablecoins<\/a>, Tether<\/a>, Tether stablecoin<\/a>, Tether’s USDT<\/a>, top five stablecoins<\/a>, top ten stablecoins<\/a>, Tron’s Stablecoin<\/a>, trueusd<\/a>, tusd<\/a>, usd coin<\/a>, USDC<\/a>, USDD<\/a>, USDP<\/a>, USDT<\/a><\/div>\n<\/div>\n

What do you think about the state of the stablecoin market today? What do you think about the stablecoin economy\u2019s valuation slipping by close to 5% during the past two months? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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