WebsCrypto
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Opinions
  • Press Releases
Facebook X (Twitter) LinkedIn Telegram
WebsCryptoWebsCrypto
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Opinions
  • Press Releases
Bitcoin (BTC) $26,181.01 0.54%Ethereum (ETH) $1,589.59 0.21%BNB (BNB) $211.49 0.82%XRP (XRP) $0.500202 0.56%Cardano (ADA) $0.24428 0.05%Solana (SOL) $19.03 2.25%Dogecoin (DOGE) $0.060018 1.48%Polkadot (DOT) $4.00 1.59%Shiba Inu (SHIB) $0.000007 0.39%Dai (DAI) $0.998833 0.24%TRON (TRX) $0.084418 0.08%Polygon (MATIC) $0.510298 1.49%Avalanche (AVAX) $8.92 0.06%Uniswap (UNI) $4.22 0.88%Litecoin (LTC) $63.47 1.22%
Crypto Prices
WebsCrypto
News

Glassnode: This Week Saw the First Massive Contraction in Stablecoin Supply in Years

By WebsCryptoMay 14, 20221 Min Read
Glassnode: This Week Saw the First Massive Contraction in Stablecoin Supply in Years
Share
Facebook Twitter Telegram LinkedIn Reddit Email

This week saw the first massive contraction in stablecoin supply in years, according to new analysis from blockchain analytics firm Glassnode. Since March 2020, the total supply of major stablecoins (USDT, USDC, BUSD, and DAI) has increased from $5.33 billion to over $158.25 billion. This is an astonishing increase of 2866% in just over two years.

USDT remains the dominant asset with 52.6% of the main supply, followed by USDC with 30.8% dominance. However, the total stablecoin supply has shrunk by $3.285 billion since the beginning of April. When shrinking, the total stablecoin supply was at $161.53 billion. Most stablecoin redemptions are driven by USDC, which has lost $4.77 billion since the beginning of March.

Advertisements

On the other hand, the supply of USDT continued to expand, adding $2.5 billion over the same period. This recent stablecoin supply contraction is a rare event, with total supply shrinking at a rate of -$2.9 billion per month. USDC is the major stablecoin asset experiencing redemptions, which heralds some degree of net capital outflow across the cryptocurrency industry.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Altcoin Blockchain
WebsCrypto
  • Website
  • Facebook
  • X (Twitter)
  • Instagram

WebsCrypto is your best bet for the latest crypto news from around the world.

Recommended Reading

Markets September 25, 2023

Bonds Surge in Appeal as Bitcoin and S&P 500 Navigate Third Quarter Downturn

Markets September 25, 2023

NFT Market Faces Significant Decline Amidst Broader Crypto Challenges

Business September 24, 2023

Crypto Companies Shift Focus Outside the U.S. Amid Regulatory Pressures

News September 22, 2023

Robert Kiyosaki: Cryptocurrency is the Future, Fiat Money is on the Decline

Markets September 22, 2023

Federal Reserve Holds Steady on Interest Rates; Bitcoin Maintains Support at $27,000

Markets September 22, 2023

Bitcoin and Ethereum Navigate Volatile Waters Ahead of FOMC Decision

The Latest
Markets September 25, 2023

Bonds Surge in Appeal as Bitcoin and S&P 500 Navigate Third Quarter Downturn

Markets September 25, 2023

NFT Market Faces Significant Decline Amidst Broader Crypto Challenges

Business September 24, 2023

Crypto Companies Shift Focus Outside the U.S. Amid Regulatory Pressures

News September 22, 2023

Robert Kiyosaki: Cryptocurrency is the Future, Fiat Money is on the Decline

Markets September 22, 2023

Federal Reserve Holds Steady on Interest Rates; Bitcoin Maintains Support at $27,000

EDITOR’S CHOICE
Ether (ETH) Prices are Trading at 27% Discount to Fair Value, New Research Shows
Robert Kiyosaki: Cryptocurrency is the Future, Fiat Money is on the Decline
DeFi Economic Activity Declines in August
Crypto Companies Shift Focus Outside the U.S. Amid Regulatory Pressures
News
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Markets
  • Business
  • Markets
Information
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Price Indexes
  • Market Cap
  • Bitcoin Price
  • Ethereum Price
  • Cardano Price
  • Solana Price
  • Polkadot Price
  • Polygon Price
Services
  • About Us
  • Contact Us
  • Advertise
  • Privacy Policy
  • Terms of Service
WebsCrypto
X (Twitter) Facebook Telegram LinkedIn RSS
© 2023 WebsCrypto

Type above and press Enter to search. Press Esc to cancel.