Stablecoins, $1.9 Billion Exits in a Week...Why are Whales Cashing Out Now?

▲ Tether (USDT), PUSD, Stablecoin/AI Generated Image

The stablecoin market saw an outflow of $1.911 billion in a week. USDT accounted for 41% of the total decrease. USDS experienced the largest reduction among the top 15 stablecoins.

According to cryptocurrency specialized media Bitcoin.com on July 5 (local time), the total stablecoin market capitalization recorded $311.311 billion. It decreased by 0.61% over the past 7 days, with the decrease amounting to $1.911 billion. USDT's market capitalization was $184.112 billion, accounting for 59.14% of the total market.

USDT decreased by 0.43% over the week, reducing by $791 million. USDC's market capitalization was tallied at $73.098 billion. It decreased by 1.05% during the same period. USDT and USDC accounted for more than 82% of the market capitalization of the top 15 stablecoins.

Conversely, PYUSD showed the strongest increase among the top 15. Its market capitalization grew by 4.25% to $2.836 billion. RLUSD increased by 0.96% to $1.585 billion. USDD also increased by 1.55% to $1.396 billion.

USDS decreased by 2.36% over 7 days, recording the highest decline rate among the top 15. Its market capitalization is $8.02 billion. USD1 decreased by 1.77% to $4.61 billion. USDG was tallied at $2.871 billion, a decrease of 1.19%, and USDe at $4.439 billion, a decrease of 0.49%.

Bitcoin.com explained stablecoin supply as an indicator for observing the flow of standby funds in the cryptocurrency market. It pointed out that a decrease in supply could mean a reduction in funds immediately available for investment. However, it evaluated that it is difficult to judge a widespread change in fund flow based solely on this 0.61% decrease. The stablecoin market size has remained around $300 billion to $310 billion for several months.

[Key Summary of the Article]

-The total stablecoin market capitalization decreased by $1.911 billion over the week, recording $311.311 billion.

-USDT decreased by $791 million, accounting for 41% of the total market decrease, and USDS decreased by 2.36%.

-PYUSD recorded the highest increase rate among the top 15 stablecoins, increasing by 4.25% to $2.836 billion.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*