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Stablecoin Market Dips To $317B In Early June
Top stablecoins have seen their supply reduced on the markets over the last few days, with a total $3.4B reduction across the space.
Slight decrease in the stablecoin market cap (Michael Descharles / Unsplash)
The stablecoin market has reduced by 1% this week.
Stablecoin issuance has slightly dipped over the course of several days, with the week ending in a $3.4B reduction in the total stablecoin market cap. USDT and USDC saw the largest changes, with a decrease down to 187B and 75B in respectively stablecoins issued as per DefiLlama.
Each lost around 2.5B from their running stablecoin supply.
Elsewhere, other stablecoins performed more steady.
As the third largest stablecoin, Sky's USDS did not see a particularly large change this past week with about 8.8B in total stablecoin supply.
Ethena had performed the strongest out of the bunch. Its primary stablecoin USDe added $600M in new market cap, while its institutional stablecoin product USDTB crossed the $1B mark for the first time.
Other top 15 stablecoins, such as Ripple's RLUSD and World Liberty's USD1, also saw around 170M and 93M in new stablecoin issuance.
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