📉 The global crypto market is sluggish, and stablecoins are feeling the impact too. Over the past 18 months, stablecoin market capitalization has continued to decline, according to Binance research.
- Stablecoin market capitalization fell to $123.8 billion, lowest since September 2021.
- Nevertheless, Tether (USDT) and DAI recorded mild increases.
- USDT still leads with 67.2% market share, up 0.4% month-on-month.
- DAI, the third largest stablecoin, rose 5.4% month-on-month.
Stablecoins continue to play an important role in the global financial system, despite experiencing a bearish trend. This year, the market capitalization of stablecoins experienced a significant increase, as when financial banks such as Silicon Valley and Silvergate collapsed, investors turned to stablecoins as a hedge.
What do you think, will this bearish trend continue? 🤔 Come on, discuss it in the comments column!
- Stablecoin market capitalization fell to $123.8 billion, lowest since September 2021.
- Nevertheless, Tether (USDT) and DAI recorded mild increases.
- USDT still leads with 67.2% market share, up 0.4% month-on-month.
- DAI, the third largest stablecoin, rose 5.4% month-on-month.
Stablecoins continue to play an important role in the global financial system, despite experiencing a bearish trend. This year, the market capitalization of stablecoins experienced a significant increase, as when financial banks such as Silicon Valley and Silvergate collapsed, investors turned to stablecoins as a hedge.
What do you think, will this bearish trend continue? 🤔 Come on, discuss it in the comments column!