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The market value of stablecoins has declined for 18 consecutive months, and has shrunk by 10% during the year

19/09 14:40
Odaily Planet Daily News According to data from research company CCData, although the entire encryption ecosystem has rebounded from the lows in 2022, the market value of stablecoins is about to decline for 18 consecutive months (counting this month). As of September 14, the market value of stablecoins has shrunk by nearly one-tenth this year to $124.4 billion (about $123.7 billion as of today). CoinGecko data shows that the market value of USDT hit a record high of US$83.8 billion in July after being below US$80 billion in the first three months of this year, and has since dropped to around US$82.9 billion; while the market value of USDC has reached a record high of US$82.9 billion since June last year. It has fallen more than 53% from its highs and is currently hovering above $26 billion. (Reuters)