Stablecoin supply shrinks as traders await Fed and BoJ moves

Community Trust Score Verified 92 % Real Verified 39 votes Updated 43 seconds ago Total stablecoin market capitalization decreased by $2.19 billion during the week ending October 25, according to a weekly report from on-chain analytics firm Lookonchain. This contraction in supply occurred as traders prepared for interest rate decisions from the Federal Reserve on October 28 and the Bank of Japan (BoJ) on October 30. The reduction in stablecoin supply was most pronounced on major networks. On Ethereum, combined balances of Tether (USDT) and USD Coin ( USDC ) fell by $1.17 billion over the seven-day period.

Source: The Currency Analytics