{"id":543894,"date":"2023-01-26T13:53:06","date_gmt":"2023-01-26T10:53:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/algorithmic-stablecoin-market-share-dropped-by-10x-from-ath-report\/"},"modified":"2023-01-26T13:53:06","modified_gmt":"2023-01-26T10:53:06","slug":"algorithmic-stablecoin-market-share-dropped-by-10x-from-ath-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/algorithmic-stablecoin-market-share-dropped-by-10x-from-ath-report\/","title":{"rendered":"# Algorithmic stablecoin market share dropped by 10x from ATH: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a278217ef73d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a278217ef73d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/algorithmic-stablecoin-market-share-dropped-by-10x-from-ath-report\/#%E2%80%9D_Algorithmic_stablecoin_market_share_dropped_by_10x_from_ATH_Report_%E2%80%9C\" >&#8221; Algorithmic stablecoin market share dropped by 10x from ATH: Report  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Algorithmic_stablecoin_market_share_dropped_by_10x_from_ATH_Report_%E2%80%9C\"><\/span>&#8221; Algorithmic stablecoin market share dropped by 10x from ATH: Report  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvYWRhYmUwMTAtYzQ1My00ODU4LTkyYzAtYzZiZmYzZDYxNjFiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>The notorious failure of the Terra USD (UST) stablecoin affected the crypto market, but the algorithmic stablecoins took the harshest punch. Since its peak in April 2022, the market share of algorithmic stablecoins shrank almost tenfold.\u00a0<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cryptocompare.com\/media\/43977177\/stablecoins_jan_vf-2.pdf\">According<\/a> to a new report from CryptoCompare, the current market share of algorithmic stablecoins stands at 1.71%, while its all-time high record in April 2022 reached 12.4% of the whole crypto market. Before its crash, Terra USD accounted for 79.8% of the algorithmic stablecoin\u2019s market share. <\/p>\n<p>The stablecoin market is <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly suffering, with January becoming the tenth consecutive month of decline in its market capitalization. In December 2022, centralized exchanges saw a net outflow of $3.65 billion in stablecoins \u2014 the largest since November 2021. According to CryptoCompare:<\/p>\n<blockquote><p>\u201cThe decline in stablecoin dominance suggests market participants are rotating out of stablecoins and into risk assets.\u201d<\/p><\/blockquote>\n<p>Tether (USDT), USD Coin (USDC) and Binance USD (BUSD) remain the leaders in the stablecoin market, with USDT accounting for 48.7% of the market share \u2014 the highest dominance recorded since October 2021.\u00a0<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Stablecoin data points to \u2018healthy <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>etite\u2019 from bulls and possible Bitcoin rally to $25K<\/em><\/strong><\/p>\n<p>The report also highlights the so-called \u201cstablecoin war,\u201d heated up by Coinbase\u2019s decision to introduce a zero-fee trade to swap USDT for USDC in December 2022. Minted by the exchange, USDC currently accounts for less than 1% of the stablecoins trading volume on Coinbase. Earlier in 2022, Binance also introduced its BUSD auto-conversion feature, which automatically converted users\u2019 balances of USDC, USDP and TrueUSD to BUSD on a 1:1 basis. <\/p>\n<p>In late January, the CEO of Visa, Al Kelly, expressed his belief\u00a0that, along with central bank digital currencies, stablecoins have the potential to play a meaningful role in the payments space. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/algorithmic-stablecoin-market-share-dropped-by-10x-from-ath-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Algorithmic stablecoin market share dropped by 10x from ATH: Report &#8220; The notorious failure of the Terra USD (UST) stablecoin affected the crypto market, but the algorithmic stablecoins took the harshest punch. Since its peak in April 2022, the market share of algorithmic stablecoins shrank almost tenfold.\u00a0 According to a new report from CryptoCompare,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":543895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/adabe010-c453-4858-92c0-c6bff3d6161b.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[138848,75013,75493,82350,74355,117,36041],"class_list":["post-543894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance-usd","tag-cryptocompare","tag-stablecoin","tag-usd-coin","tag-adoption","tag-business","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=543894"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543894\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/543895"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=543894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=543894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=543894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}