News
Stablecoin Supply Shrank by $14.2 Billion
Stablecoin supply has decreased by $14.2 billion over the past 30 days, marking the fastest contraction since June 2022. This decline is attributed to holders redeeming their stablecoins for dollars, reducing the total supply to just under $280 billion. The trend is part of a broader shift observed since August, with Bitcoin and Ether also experiencing significant declines. Glassnode noted that the current contraction represents about 4% to 5% of the total supply, and the next sign of recovery would be an increase in stablecoin supply.