A closer look at the changes in stablecoin supply as TUSD gains on market

While most crypto market analyses predominantly focus on Bitcoin and Ethereum, given their stature as the two largest and most influential cryptocurrencies, it’s crucial to underscore that stablecoins are an equally pivotal market force.

Stablecoins saw their all-time high in March 2022. At that time, the combined market capitalization of the top five largest stablecoins reached $162.8 billion. To put this in perspective, a year prior, in March 2021, this aggregate market cap stood at $55 billion. However, the tides began to shift in April 2022, when the aggregate stablecoin market cap embarked on a downward trajectory. Barring a few short-lived positive net position changes, this decline has persisted until today.