• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
USDC stablecoin capitalization fell by 12%

USDC stablecoin capitalization fell by 12%

user avatar

by dapp_writer005

3 years ago


After the collapse of Terra, from May to June, investors began to invest their savings in the USD Coin (USDC) stablecoin, due to which its capitalization began to grow.

The USDC supply has risen to more than $56 billion, but has decreased by 12 percent over the past month. As of 09/11/2022, the capitalization of this stablecoin was slightly above $46 billion.

The Binance exchange decided to automatically convert all customer reserves into the BUSD stablecoin, which made the USDC vulnerable.

All funds of traders in USDC, Pax Dollar and TrueUSD have also been exchanged for Binance USD. Over the past 2 weeks, the supply of BUSD has increased by 12 percent, while the capitalization of USDC has decreased by 12 percent.

From the beginning of May to 06/19/2022, USDC capitalization increased from 48 billion to 56 billion US dollars. Users decided to invest in this stablecoin, as Tether lost its peg to the dollar for a while.

But the USDT stablecoin has retained its status as the leading fiat-backed crypto asset.

Tether CTO Paolo Ardoino said his firm had managed to pay out approximately $7 billion to investors by the end of May.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Trump's Crypto Tax Bill Passed, Leaving Miners and Stakers Without Relief

chest

The Trump tax bill did not provide the expected relief for cryptocurrency owners. Staking and mining income reporting remains unchanged.

user avatarGiorgi Kostiuk

Ilya Sutskever Becomes CEO of Safe Superintelligence: A New Phase in AI Development

chest

Ilya Sutskever has been appointed as the CEO of Safe Superintelligence following the departure of co-founder Daniel Gross, a shift that could influence the AI market.

user avatarGiorgi Kostiuk

Crypto Users Alerted: Solana Trading Bot Scam on GitHub

chest

Cybersecurity experts warn of a new type of scam where a fake trading bot for Solana steals crypto assets.

user avatarGiorgi Kostiuk

Tax Exemption for Small Crypto Transactions – Senator Lummis's Initiative

chest

Senator Lummis proposed tax exemptions on small crypto transactions up to $300, potentially increasing government revenue by $600 million.

user avatarGiorgi Kostiuk

Dogecoin in the Spotlight: Is a New Rally Possible?

chest

Dogecoin is back: ETF talks and social media hype are boosting the cryptocurrency. Success or just a temporary spike?

user avatarGiorgi Kostiuk

Ripple Unlocks 500 Million XRP in New Approach to Reserve Management

chest

Ripple has unlocked 500 million XRP, splitting the release into two parts for this month, causing reactions in the crypto market.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.