{"id":20222,"date":"2023-04-25T17:30:11","date_gmt":"2023-04-25T17:30:11","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tether-grows-2-3-as-stablecoin-economy-loses-2-4-billion-in-value-since-march-31-altcoins-bitcoin-news\/"},"modified":"2023-04-25T17:30:11","modified_gmt":"2023-04-25T17:30:11","slug":"tether-grows-2-3-as-stablecoin-economy-loses-2-4-billion-in-value-since-march-31-altcoins-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tether-grows-2-3-as-stablecoin-economy-loses-2-4-billion-in-value-since-march-31-altcoins-bitcoin-news\/","title":{"rendered":"Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31 \u2013 Altcoins Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the last 30 days, except for tether, which grew by 2.3% during that time.<\/strong><\/p>\n

Four of the Top Five Stablecoins Experience Net Redemptions in the Past 30 Days<\/h2>\n

On March 31, 2023<\/a>, the top stablecoins by market capitalization represented $133.63 billion in value, and now the valuation is down to $131.21 billion<\/a>. A total of $2.4 billion worth of stablecoins has been withdrawn from the stablecoin economy since then. Data reveals that over the past 30 days, USDC, BUSD, DAI, and TUSD have all seen redemptions. Usd coin\u2019s (USDC) circulating supply dropped 10.2% compared to last month, and binance usd (BUSD) fell by 20.6%. Of the top five largest stablecoins, both USDC and BUSD experienced the most redemptions.<\/p>\n

\"Tether
The top five stablecoins by market valuation according to coingecko.com on April 25, 2023.<\/figcaption><\/figure>\n

Further, DAI\u2019s circulating supply slipped 9% lower in 30 days and TUSD\u2019s supply decreased by 0.7%. Tether (USDT<\/a>), however, grew 2.3% since last month, reaching a market capitalization worth $81.39 billion. Tether\u2019s market valuation accounts for 61.65% of the entire stablecoin economy\u2019s $131.21 billion value. While tether\u2019s supply grew by 2.3%, pax dollar (USDP) rose by 33.9% since last month.<\/p>\n

USDP now has a market valuation of approximately $1,037,832,268. Both frax dollar and Tron\u2019s USDD experienced losses during the past 30 days; frax dollar (FRAX) shed 3.8% while USDD lost 1% of its circulating supply. Gemini\u2019s dollar-pegged token GUSD saw its supply increase by 18.1% to $465.22 million. Liquity usd (LUSD) recorded a 2.4% rise, and magic internet money (MIM) increased by 5.9% last month. The entire stablecoin economy represents 11.02% of the crypto economy\u2019s $1.19 trillion net value.<\/p>\n

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BUSD<\/a>, DAI<\/a>, frax dollar<\/a>, GUSD<\/a>, LUSD<\/a>, Market Capitalization<\/a>, MIM<\/a>, Pax dollar<\/a>, redemptions<\/a>, Stablecoin Economy<\/a>, Tether<\/a>, tusd<\/a>, USDC<\/a>, USDD<\/a>, Value<\/a><\/div>\n<\/div>\n

What does the recent decline in the stablecoin economy mean to you? Share your thoughts 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 7,000 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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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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