Significant events in the cryptocurrency sector occurred in September with regard to stablecoins. According to researcher CCData, one notable pattern was the stablecoin market capitalization’s 18th consecutive month of decline, which culminated in a new low of $124 billion, evoking memories of September 2021. For August 2021, that is the lowest amount. In December, the sector was worth $137 billion.

The Federal Open Market Committee (FOMC) meeting and the notification of the FTX asset liquidation have caused periodic instability, but overall, the cryptocurrency market has shown strength by rebounding swiftly and stabilizing.

Stablecoins, also known as “pegged” or “linked” cryptocurrencies, have their value set in relation to that of a traditional currency, commodity, or financial …