Stablecoin capitalization is near $263 billion, its lowest point in more than a year, and analyst Darkfost says the reading reflects limited fresh capital and subdued investment demand in crypto markets.
Darkfost’s measure is about $17 billion below the roughly $280 billion level in April, a decline of about 6%. It is the lowest reading in more than a year. The figure adds up the market value of stablecoins.
The latest decline follows a monthlong contraction in stablecoin capitalization, which EconoTimes covered in an earlier report. Binance’s stablecoin holdings also declined over the past year. Darkfost pointed to recent security incidents as a factor that worsened the retreat.
