Stablecoin GUSD Supply Increases Nearly 130% in 30 Days – Altcoins Bitcoin News
While the stablecoin economy has seen volatility with certain stablecoin tokens, with projects increasing the number of tokens in circulation and decreasing supply, the Gemini-issued stablecoin GUSD has increased by 129.5% in
GUSD Sees Supply Balloon Nearly 130%
There have been many changes in the stablecoin economy as Bitcoin.com News reported events such as the demise of Terra’s stablecoin terrausd (UST), now called terrausdclassic (USTC). Following the Terra stablecoin depeg event in mid-May, many other stablecoin assets showed discrepancies between their exchange rates and the USD parity they were trying to maintain. By mid-March, Bitcoin.com News reported that Tether had removed over 12 billion from USDT supply in two months.
Recently, the supply of the second largest stablecoin asset, USD Coin (USDC), has been significantly reduced. On October 22, 2022, our news desk reported that the Binance and Paxos-backed stablecoin BUSD increased its supply by 22% in his two months. Today’s 30-day stats show that BUSD supply is 4.2% higher than he was a month ago. Tether supply has increased as well, with one-month indicators showing a 1.7% increase in USDT supply.
Meanwhile, USDC fell 7.5% from supply, while DAI, FRAX, USDP, and TUSD also fell last month. started. According to 30-day statistics, GUSD’s supply has increased by 129.5%, making him the 8th largest stablecoin among the top 10 currently. His GUSD market cap on Oct. 25 was $332 million and is now around $786.32 million.
The current circulating supply of GUSD is about 786,146,923, and according to archive.org snapshot, the circulating supply of GUSD was about 316,133,518 tokens. This data shows that since September 23, 2022, the number of GUSD tokens in circulation has increased by 148.68%.
On the same day, another archive.org snapshot showed that the Gemini stablecoin was not among the top 10 stablecoins as it held the 11th largest position. However, GUSD has a long way to go to become a top 10 stablecoin like USDT, USDC and BUSD, as it ranks 62nd among over 13,000 crypto assets in existence today.
What do you think about the GUSD supply surge of over 129% in 30 days? Let us know what you think about this in the comments section below.
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Stablecoin GUSD Supply Increases Nearly 130% in 30 Days – Altcoins Bitcoin News
Source link Stablecoin GUSD Supply Increases Nearly 130% in 30 Days – Altcoins Bitcoin News
