Stablecoin Market Capitalization Falls $17 Billion in Six Months

Stablecoin market capitalization has fallen to $263 billion, its lowest level in more than a year, after shrinking by about $17 billion since April as crypto-market liquidity contracted. The total stood near $280 billion in April, making the decline roughly 6% over six months. Analyst Darkfost attributed the contraction to weak demand and limited new capital entering crypto markets. The pullback is also visible on centralized exchanges. Binance holds about 70% of the stablecoin supply on those platforms, while the 90-day moving average of stablecoin value on Binance has fallen from $51 billion to $34 billion.

Source: TokenPost