Since March 31, 2023, the stablecoin economy has lost $2.4 billion in value, with net redemptions occurring in four of the top five stablecoins. There have been redemptions for USDC, BUSD, DAI, and TUSD, with USDC and BUSD seeing the most redemptions. Tether’s (USDT) market capitalization increased by 2.3% to $81.39 billion. The Frax dollar (FRAX) fell by 3.8%, the circulating supply of the USDD decreased by 1%, and the Pax dollar (USDP) increased by 33.9%. Both equity usd (LUSD) and magic internet money (MIM) saw increases of 2.4% and 5.9%, respectively. The $1.19 trillion net value of the cryptocurrency market is made up of 11.02% by the stablecoin market as a whole.
Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31
