Top Stablecoins Shed $7B In May As Traders Redeem Tokens En Masse - Blockworks
5/21/2022 12:00:00 AM2 years 11 months ago
by David Canellis
by David Canellis
The top four stablecoins by market capitalization have shrunk around 4% in May, with Tether losing 11% of its supply to redemptions
- Stablecoin holders are exchanging their tokens for cash, in some cases reducing the coins overall supply
- Tether and DAI have shrunk the most throughout May so far