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Stablecoin market records $2.4b in redemptions in 30 days as leading Tokens experience supply decline

June 16, 2023


In the realm of stablecoin projects, the diminishing supplies of various tokens have become an ongoing trend, and the past month witnessed notable redemptions for USDC, BUSD, and DAI. The second largest stablecoin, USDC, experienced a 5.7% reduction in its supply, while

BUSD saw approximately 19% of its tokens redeemed.
Similarly, Makerdao’s DAI stablecoin witnessed a 4% decline since May 15, 2023. However, amidst these fluctuations, two stablecoins stood out by showcasing increases in their supplies over the last 30 days — tether (USDT) and true usd (TUSD).

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