The number of coins in circulation for the stablecoin $BUSD has fallen below the 10 billion mark to approximately 9.68 billion on March 3.
and USDC, have seen increases in terms of coins in circulation over the past 30 days, while BUSD’s supply continues to plummet.
This month, the supply of tether has risen 4.7%, surpassing 71 billion coins. Usd coin has also seen a 1.7% increase, with 43.16 billion coins in circulation. However, the supply of three other top stablecoins, namely DAI, pax dollar , and gemini dollar , has diminished. DAI’s supply has decreased by 2.1% this month, while USDP has dipped 20.2% lower. Similarly, GUSD’s supply has also slid 2% lower over the last 30 days. In contrast, trueusd’s supply has increased by 22.
USDD and FRAX have also experienced increases, with USDD rising slightly by 0.2% over the past month and FRAX climbing by 1.1% compared to the previous month. Together, all nine aforementioned stablecoin assets make up 70.22% of the 24-hour trading volume. Before the Terra stablecoin depegging event, the stablecoin market was more predictable and exhibited steady growth. The declines in recent times, however, demonstrate the current unpredictable nature of the stablecoin market.
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