Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last 30 days.
Stablecoin Economy Drops Lower, Tether Market Cap Sheds 5%
Furthermore, the market capitalization of all the stablecoins in existence is much lower than it was two months ago, as the market cap dropped by 4.83% from $151.37 billion to today’s $144 billion total. Data indicates that this past month, tether has seen its market capitalization drop more than 5% lower from $69.13 billion to the current $65.48 billion.
Makerdao’s DAI stablecoin has shed 9.7% this past month and the stablecoin’s market capitalization was the biggest loser out of the top ten dollar-pegged crypto tokens. On Oct. 31, DAI’s market cap was around $5.77 billion and today, it’s coasting along at $5.20 billion. With tether and DAI leading the losses over the last month out of the top ten stablecoins, frax followed behind the two tokens shedding around 3.1% last month.
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