2 Billion USDC Redemptions in 30 Days: Stablecoin Market in Flux

• The stablecoin USDC has seen a decrease of 4.9% in the past month while tether saw an increase of 3%.
• There was a loss of $625,009,636 in value from Jan. 6, 2023 to Feb. 10 for the entire stablecoin market capitalization.
• Over 8 out of every 10 trades across the crypto market are conducted using a stablecoin.

Stablecoin Market Circulation

It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease of approximately 4.9% in the same time frame. From Jan. 6, 2023, to Feb. 10, approximately $2.196 billion worth of usd coin was redeemed over the past month.

Overall Stablecoin Market Capitalization

According to current statistics, the entire stablecoin market capitalization lost $625,009,636 in value from Jan. 6, 2023 up until today with USDC decreasing by 4.9%. Conversely, Tether saw a 3% increase mitigating some of USDC’s losses in terms of overall market capitalization for all stablecoins combined and BUSD shed 0.5%. The rest of dominant stablecoins within top ten standings such as DAI, FRAX and GUSD have seen 30-day increases regarding coins in circulation including Tron’s USDD which jumped 1..3%, USDP increasing by 3..3%, and TUSD’s number coins in circulation over last month swelling by 11..9%.

Stablecoins Representation Within Crypto Economy

As it stands now ,the stablecoin economy represents approximately 12..9% of total crypto economy and its trade volume accounts for 81..4% overall cryptocurrency trade volume which shows roughly 8 out every 10 trades across crypto market conducted using a stablecoin .

Regulatory Crackdown Impact On Stablecoins

The future stability and success for individual cryptocurrencies is uncertain but recent regulatory challenges and trends have caused an effect on them ,particularly after 5 % decline suffered due to SEC sanctioning Kraken’s staking service .


The recent data shows that circulating supply for USDC has decreased while tether’s increased resulting into loss valuation for whole StableCoin market capatilzation with BUSD shedding 0…5%. Despite this however majority other cryptocurrencies within top ten standings have recorded increases with 8 out every 10 trades across crypto markets being conducted via StableCoin . The long term impact on their success is uncertain due to ongoing regulatory challenges but so far they remain major players within cryptocurrency ecosystem .