The stablecoin sector’s market capitalization has reached its lowest level since September 2021, with stablecoin trading volumes falling by 40.6%, according to CCData’s latest report, while JPMorgan’s chief global markets strategist warns investors to reevaluate their portfolios amid global recession fears.
These 30 days the total market cap of the crypto stablecoin sector within the digital currency space has reached its weakest point since September 2021, marking its fourteenth consecutive 30 days of decline, as it dropped 0.45 percent to $130 Billion as of May 23.
Reports by CCData’s latest Crypto Stablecoins & CBDCs report, crypto stablecoin trading volumes dropped these 30 days by 40.6 percent to 460 billion, recording the lowest monthly volume of trading since December 2022. As of May 22, the report adds, only $292 Billion have been traded, with volumes on track to record an even lower volume.
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