Stablecoin exodus: Why are traders fleeing crypto’s secure haven?

In a 12 months stuffed with uncertainty within the cryptocurrency area, a brand new pattern has been unraveling: a stablecoin exodus that has now lasted for 18 consecutive months and has seen the market dominance of stablecoins drop to 11.6%.

In response to a report from CCData, the overall market capitalization of the stablecoin sector in July was $124 billion amid a 18-month decline that affected most main stablecoins. Whereas Pax Greenback (USDP), (USDC) and Binance USD (BUSD) all noticed declines, the most important stablecoin by market cap, (USDT), has saved on rising.

Proceed Studying on Coin Telegraph