2022 has been the year of mass exit from stablecoins as more than $14.3 billion has been redeemed from these tokens since March.
Total Stablecoin Supply Is Down 8% From March 2022 Peak
According to the latest weekly report from Glassnode, the stables observed expansion throughout 2020 and 2021. The relevant indicator here is the “stablecoin supply net position change,” which measures the net amount of capital flowing into or out of these fiat-tied tokens.
When the value of this metric is positive, it means the total supply of these assets is increasing in size right now as more tokens are being minted. On the other hand, negative values imply a net amount of capital is leaving this sector as investors are redeeming their stables for fiat currently.
Now, here is a chart that shows the trend in the stablecoin supply net position change over the last few years:
As the above graph shows, the supply of stablecoins saw a net increase throughout 2020 and 2021, with the latter year observ
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