Captured By Tracy D'souza / 10:34 am on 18 April 2023
The stablecoin market has recently contracted and is currently hovering around $131.94 billion. The decrease in the stablecoin market can be attributed to several dollar-pegged coins that have reduced their token supplies. In the last month, usd coin (USDC) has decreased its supply by 12.6%, while binance usd (BUSD) has seen an 18.9% reduction in supply. Additionally, Makerdao’s DAI has experienced a 9.8% decrease in supply, and Tron’s USDD supply has decreased by 1.3% in the past month.