{"id":9195,"date":"2022-12-16T01:17:57","date_gmt":"2022-12-16T01:17:57","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=9195"},"modified":"2022-12-16T01:17:58","modified_gmt":"2022-12-16T01:17:58","slug":"stablecoins-worth-4b-exited-exchanges-in-last-7-days","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9195","title":{"rendered":"Stablecoins worth $4B exited exchanges in last 7 days"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n   <\/p>\n<p>Data analyzed by <em>CryptoSlate<\/em> analysts revealed that around $4 billion worth of stablecoins left the exchanges over the past seven days, leaving a volume of $38 billion.<\/p>\n<p>This analysis is based on the STBL data, which is a virtual asset that aggregates the data of all ERC20 stablecoins to create a metric that can reflect the stablecoin balances across all crypto exchanges.<\/p>\n<h2>Stablecoins held on exchanges<\/h2>\n<p>STBL includes Binance USD (BUSD), Gemini Dollar (GUSD), HUSD (HUSD), DAI (DAI), Paxos Standard (USDP), Stasis Euro (EURS), SAI (SAI), Synthetix USD (sUSD), Tether (USDT), USD Coin (USDC).<\/p>\n<p>The green line on the chart below reflects the total volume of the stablecoins included in the STBL metric that has been held on exchanges since the beginning of 2018.<\/p>\n<p>Stablecoin balance on exchanges<\/p>\n<p>According to the data, the exchanges started accumulating stablecoins at an increasing rate in January 2021. The growth has been more or less stable since then, except for a few downfalls during late 2021 and 2022.<\/p>\n<p>The chart also shows a visible drawdown recorded over the past week. Exchange users purchased around $4 billion worth of stablecoins and removed them from the exchanges\u2019 portfolios.<\/p>\n<h2>USDC vs. USDT<\/h2>\n<p>When it comes to the market shares of stablecoins that sit on exchanges, a recent analysis by <em>CryptoSlate<\/em> revealed that USDT has taken the lead.<\/p>\n<p>According to numbers from Sept 2022, the USDT balance on exchanges doubled and reached $17.7 billion, compared to Sept. 2021, when it was just below $8 billion. USDT has been available on exchanges since early 2019, but its share started to grow exponentially only after 2021.<\/p>\n<p>USDC has also been increasing its market share since the beginning of 2021. By early 2022, it stood at $7 billion. However, its dominance didn\u2019t continue as it fell to $2.1 billion by Sept. 2022.<\/p>\n<p>Posted In: Analysis, Stablecoins<\/p>\n<h3>Read Our Latest Market Report<\/h3>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/stablecoins-worth-4b-exited-exchanges-in-last-7-days\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Data analyzed by CryptoSlate analysts revealed that around $4 billion worth of stablecoins left the exchanges over the past seven days, leaving a volume of $38 billion. This analysis is based on the STBL data, which is a virtual asset that aggregates the data of all ERC20 stablecoins to create a metric that can reflect [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-9195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9195"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9195\/revisions"}],"predecessor-version":[{"id":9197,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9195\/revisions\/9197"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9196"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}