The volume of stablecoins held on centralized exchanges has fallen below $20 billion—its lowest since April 2021, according to Glassnode data as analyzed by CryptoSlate.
According to the chart below, the stablecoin balance across exchanges peaked at over $44 billion in December 2022 when the market was still smarting from FTX’s collapse.
However, that figure has steadily declined since the beginning of the year as the industry faced a new wave of crises, including increased regulatory scrutiny and the capitulation of several crypto-friendly banks.
The stablecoins in the metrics include the following: BUSD, GUSD, HSUD, DAI, USDP, EURS, SAI, sUSD, USDT, and USDC.
Why are exchanges’ stablecoin balances dropping?
The exchange stablecoin decline can likely be tied to the heightened regulatory risks associated with the crypto industry. Financial regulators have increased their scrutiny of the space following the collapse of Terra’s algorithmic stablecoin and the subsequent implosion
We współpracy z: https://cryptoslate.com/stablecoin-exchange-balance-drops-below-20b/
