The top stablecoins have continued to see redemptions over the past 30 days as the dollar-pegged crypto economy currently hovers at $127.32 billion on July 12. The stablecoin BUSD’s supply has dropped below the 4 billion mark as the token’s number of coins in circulation has fallen 16.7% over the last month.
Dollar-Pegged Cryptos Feel the Pinch as Supplies Shrink Steadily
During the past ten days, the stablecoin economy shrank by $890 million after dropping from $128.21 billion to today’s $127.32 billion. Statistics show that the net value of the top dollar-pegged market capitalizations shrunk a great deal since the start of 2023.
On March 26, 2023, the stablecoin economy was worth $135.08 billion, which means $7.76 billion has been removed from the dollar-pegged token economy over the past 108 days.
30-day statistics paint a similar story as four out of the top five stablecoins saw redemptions shrink their supplies. Tether (USDT) saw a slight drop of 0.3%, while usd coin’s (US
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