Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply
According to statistics, on March 26, the stablecoin
economy was valued at $135 billion , with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market.
In recent weeks, the supplies of some stablecoins have decreased while others have increased. Today’s top ten stablecoins include USDT, USDC, BUSD, DAI, TUSD, FRAX, USDP, USDD, GUSD, and LUSD.
BUSD and
GUSD experienced the largest reductions, with
GUSD losing 31.6% of its supply over the last 30 days.
BUSD has reduced its supply by 30.6% since last month, and its market valuation is just above $8 billion. According to Nansen’s proof-of-reserves tool, $7.3 billion
BUSD is held by Binance. The stablecoin
DAI issued by Makerdao has seen a 4.7% increase in circulation. Over the last month,
FRAX recorded a 1.9% increase, and
USDP has risen 8.5%.
