Total Stablecoin Supply Below $150B After USDC Supply Decline
The total stablecoin supply has dropped by almost $5B over the past two months. The main reason is that Circle’s USDC supply has dropped by almost $10 billion since its ATH at the beginning of August. One of the reasons for this was that Binance announced at the beginninng of September that it would convert all investments in USDC, USDP and TUSD into BUSD. Another is the consequence of Tornado Cash sanctions. Over the past two months only USDT and BUSD showed an increase of the supply.