Top 10 Stablecoin Supplies Drop Lower in 30 Days; FDUSD’s Supply Jumps 23% Higher
The supply of the top ten stablecoins has decreased in the past month, while FDUSD’s supply has significantly increased.
- Tether (USDT) experienced a 1.3% decrease in circulation.
- USDC’s supply diminished by 3%.
- Makerdao’s DAI saw a 7.6% decrease in supply.
- Paxos-backed BUSD lost 15.7% of its circulating supply.
- Trueusd (TUSD) and Frax’s FRAX supply decreased by 1% and 19.8%, respectively.
Additionally, both USDD and USDP saw reductions ranging from 1.2% to 10.1%. Gemini dollar (GUSD) experienced a sharp 36% drop, while liquity usd (LUSD) decreased by 1.4% in one month.
In contrast, the newly introduced stablecoin, FDUSD, has significantly expanded its supply by 23.7% in the last 15 days. Binance wallets predominantly hold FDUSD’s supply, with only 26 distinct holders.
Hot Take
The supply of most top stablecoins has been decreasing, while FDUSD’s supply is on the rise. This indicates a potential shift in the stablecoin market as investors show more interest in FDUSD. However, tether (USDT) still dominates the global stablecoin trade volume.
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