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

In a yr full of uncertainty within the cryptocurrency area, a brand new development 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 keeping with 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 biggest stablecoin by market cap, (USDT), has stored on rising.

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