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

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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. Nad zadnjim 30 dnevi, BUSD’s token supply has dropped 40% nižje. In contrast, the number of tethers in circulation has increased by 4.7% do 71.11 billion in the last month.

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BUSD Slips Below $10 milijarde, Tether Supply Rises by 4.7% to Over $71 milijarde

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

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

Ta mesec, dobava privezi (USDT) has risen 4.7%, surpassing 71 billion coins. Usd kovanec (USDC) has also seen a 1.7% porast, z 43.16 billion coins in circulation. Vendar, 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% nižje. Similarly, GUSD’s supply has also slid 2% lower over the last 30 dnevi. In contrast, trueusd’s (TUSD) supply has increased by 22.5% over the last month, doseganje 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, vendar, demonstrate the current unpredictable nature of the stablecoin market.

Oznake v tej zgodbi
Blockchain, BUSD, BUSD supply, Kripto, Kriptovaluta, cryptocurrency market, DAI, Decentralized, depegging, Digitalna sredstva, Digitalna valuta, Digital Tokens, Gospodarstvo, Finance, Financial Technology, fluctuation, FRAX, GUSD, naložba, Tržna kapitalizacija, Peer-to-peer, Stablecoin gospodarstvo, Stablecoin Tokens, Stabilni kovanci, Dobava, Terra, Obseg trgovanja, vse, USDC, USDD, USDP, USDT, valuation, Virtual Currency

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 je vodja novic pri Bitcoin-Tidings.com News in finančni novinar, ki živi na Floridi. Redman je od takrat aktiven član skupnosti kriptovalut 2011. Ima strast do bitcoinov, odprtokodna koda, in decentralizirane aplikacije. Od septembra 2015, Redman je napisal več kot 6,000 članki za Bitcoin-Tidings.com Novice o motečih protokolih, ki se pojavljajo danes.




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