In today’s briefing:
- The Three-Stablecoin Problem
The Three-Stablecoin Problem
- In six years, stablecoins have grown from making up just 1.5% of BTC trade volume relative to fiat currencies such as the Dollar or Euro, to more than 87%.
- This has been matched with an explosion in market capitalization for the three largest centralized stablecoins: Tether (USDT), USD Coin (USDC), and Binance USD (BUSD).
- The three had a combined market cap of $10bn in May 2020, the start of DeFi Summer.
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