The stablecoin market has experienced a huge decline of 35% in the last 1.5 years! 😱 With the collapse of Terraform and the decline of Terra USD, the industry value dropped from $189 billion in May 2022 to just $123 billion now. While daily trading volumes have also fallen from $150-300 billion to $50 billion, 95% of the value in the sector is concentrated in a few assets such as USDT, USDC, DAI, TUSD and BUSD. Although stablecoins make up only 10% of the crypto industry, they account for 80% of all settlement activity on the blockchain.