From #CMC x @glassnode Report #1:
During this de-leveraging process, many investors sought safety in #stablecoins.
This is the first time in history, the aggregate value of these stablecoins has now flipped #Ethereum.
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During this de-leveraging process, many investors sought safety in #stablecoins.
This is the first time in history, the aggregate value of these stablecoins has now flipped #Ethereum.
<1/4>
🔸 $USDT circulating supply declined by an incredible -$17.24 Billion since 11 May.
🔸 $USDC supplies have risen by $7.3B over the same period of time.
🔸 $BUSD supplies have also grown by $0.7B.
🔸 $DAI supplies have contracted by $1.6B.
<2/4>
🔸 $USDC supplies have risen by $7.3B over the same period of time.
🔸 $BUSD supplies have also grown by $0.7B.
🔸 $DAI supplies have contracted by $1.6B.
<2/4>
Competition is rising, and market preference appears to be structurally shifting.
The result of these supply shifts is a notable shift in dominance between the top 4 stablecoins.
<3/4>
The result of these supply shifts is a notable shift in dominance between the top 4 stablecoins.
<3/4>
Which stablecoin do you believe to dominate the others for the rest of 2022? 👀
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