A closer look at the changes in stablecoin supply as TUSD gains on market

09/08/2023 21:30

Analyzing the stablecoin supply showed that Tether and TrueUSD flourished, while BUSD and USDC faced sizeable reductions this year.

A closer look at the changes in stablecoin supply as TUSD gains on market 44 seconds ago · 2 min read

Tether and TrueUSD flourished, while BUSD and USDC faced sizeable reductions this year.

2 min read

Updated: September 8, 2023 at 12:05 pm

A closer look at the changes in stablecoin supply as TUSD gains on market

Cover art/illustration via CryptoSlate

For most cryptocurrency enthusiasts, Bitcoin and Ethereum dominate the conversation. But let's not forget about stablecoins, a crucial yet often overlooked market force. In March 2022, the combined market cap of the top five stablecoins peaked at a staggering $162.8 billion, a threefold increase from the previous year. A closer look reveals intriguing fluctuations, with Tether (USDT) and TrueUSD (TUSD) seeing significant growth, while others such as BUSD and USDC dwindled... What’s behind these market shifts? And what does it mean for the future of stablecoins and the broader crypto landscape? Dive in to find out...