Ebb and Flow of Stablecoin Economy Continues With BUSD’s Market Cap Dropping Below $10 Billion Range

The realm of stablecoins is an ever-evolving landscape and the number of coins in circulation for the stablecoin BUSD has fallen below the 10 billion mark to approximately 9.68 billion on March 3, 2023. Over den sidste 30 dage, BUSD’s token supply has dropped 40% lower. In contrast, the number of tethers in circulation has increased by 4.7% til 71.11 billion in the last month.

BUSD Slips Below $10 Milliard, Tether Supply Rises by 4.7% til Over $71 Milliard

In the stablecoin economy, currency supply fluctuations are key drivers of change. As of Friday, marts 3, 2023, the stablecoin economy has a valuation of $136 milliard, and stablecoins account for $47 billion of the world’s trade volume over the last 24 timer. The supply of BUSD has dropped significantly and now stands at 9.68 milliard, representing roughly 0.901% of the entire crypto economy’s net value. In contrast, the top two largest stablecoins by market capitalization, USDT and USDC, have seen increases in terms of coins in circulation over the past 30 dage, while BUSD’s supply continues to plummet.

Denne måned, the supply of tether (USDT) has risen 4.7%, surpassing 71 billion coins. Usd coin (USDC) has also seen a 1.7% øge, med 43.16 billion coins in circulation. Imidlertid, the supply of three other top stablecoins, namely DAI, pax dollar (USDP), and gemini dollar (GUSD), has diminished. DAI’s supply has decreased by 2.1% this month, while USDP has dipped 20.2% lower. Similarly, GUSD’s supply has also slid 2% lower over the last 30 dage. In contrast, trueusd’s (TUSD) supply has increased by 22.5% over the last month, reaching 1.16 billion coins.

USDD and FRAX have also experienced increases, with USDD rising slightly by 0.2% over the past month and FRAX climbing by 1.1% compared to the previous month. Together, all nine aforementioned stablecoin assets make up 70.22% of the 24-hour trading volume. Before the Terra stablecoin depegging event, the stablecoin market was more predictable and exhibited steady growth. The declines in recent times, imidlertid, demonstrate the current unpredictable nature of the stablecoin market.

What do you think the future holds for stablecoins in light of recent supply fluctuations? Share your thoughts about this subject in the comments section below.

Jamie Redman

Jamie Redman er nyhedschef hos Bitcoin-Tidings.com News og en finansteknologisk journalist, der bor i Florida. Redman har været et aktivt medlem af cryptocurrency-fællesskabet siden 2011. Han har en passion for Bitcoin, åben kildekode, og decentrale applikationer. Siden september 2015, Redman har skrevet mere end 6,000 artikler til Bitcoin-Tidings.com Nyheder om de forstyrrende protokoller, der dukker op i dag.

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