Cryptocurrency News

Total supply of stablecoins dropped sharply for first time ever in Q2

06/16/2022

Less than a minute

2022.06.16 07:11

Total supply of stablecoins dropped sharply for first time ever in Q2

The total supply of stablecoins saw its sharpest drop in history during Q2 2022, with stablecoin redemptions spiking as a result of “short-term liquidity and concerns about insolvency that were not present during the panic of 2020,” according to data analytics firm Coinmetrics.

CoinMetrics head of research and development Lucas Nuzzi highlighted the data via Twitter (NYSE:TWTR) on June 16, with a graph showing the total supply of stablecoins since January 2020.

06/16/2022

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