Stablecoin Economy’s Ebb and Flow: BUSD’s Market Cap Falls Below $10 Billion Range, Reveals Latest Altcoins Bitcoin News
stablecoins, Tether and USDC, have seen their supply increase over the last month.
Tether, the largest stablecoin by market capitalization, has seen its supply rise by 4.7% to over $71 billion. This represents a significant increase in the number of tethers in circulation, which now account for 52.2% of the stablecoin market. USDC, the second-largest stablecoin, has also seen its supply increase by 2.3% to over $27 billion.
The decrease in BUSD’s token supply can be attributed to a number of factors, including increased competition from other stablecoins and a shift in investor sentiment towards other cryptocurrencies. Despite this, BUSD remains a popular choice for traders and investors looking for a stablecoin with a low volatility.
The stablecoin market has seen significant growth over the last few years, with more and more investors turning to stablecoins as a way to hedge against market volatility. As the market continues to evolve, it will be interesting to see how the supply of stablecoins changes and which coins emerge as the dominant players in the space.