The Shifting Landscape of Stablecoins The number of coins currently in circulation is now 9.68 billion. This is below the 10 Billion mark. March 3, 2023. Over the last 30 days, BUSD’s token supply has dropped 40% lower. In Contrast, the number of tethers currently in circulation has risen by 4.7% to 71.11 million.

BUSD Slides Below $10 Billion, Tether Supply Increases by 4.7% to Over $71 Billion

The Stablecoin market is in a state of flux. As of Friday, March 3, 2023, the total market capitalization of the stablecoin economy is $136 billion, and stablecoins make up $47 billion of the world’s total trade volume in the last 24 hours. BUSD’s token supply has decreased and now stands at 9.68 billion, representing roughly 0.901% of the entire crypto economy’s net value. USDT and USDC, the two largest stablecoins by market cap, have seen increases in circulation over the past 30 days, while BUSD’s supply continues to decrease.

The supply of tether (USDT) has grown by 4.7% in the last month, with 71 billion coins in circulation. USDC also rose by 1.7%, with 43.16 million coins in circulation. In contrast, the supply of DAI, USDP and Gemini Dollars has decreased. DAI’s supply has dropped by 2.1% this month, and USDP has decreased by 20.2%. GUSD’s supply also decreased by 2% over the last 30 days. On the other hand, the supply of TrueUSD (TUSD) has increased by 22.5% over the last month, reaching 1.16 billion coins.

FRAX and USDD also saw increases. FRAX saw a 1.1% increase, while USDD rose 0.2% over the past month. Together, the nine stablecoin assets make up 70.22% of the 24-hour trading volume. Before these recent drops, the stablecoin market had been steadily growing and was highly predictable. However, the recent changes have exposed the precarious nature of the market today.