Stablecoin

EURC

Base

USDC

Rewards

<ul class="wp-block-list news-points">
 <li><strong>Stablecoin market dips 2.7%, with PYUSD seeing a 40% market cap drop amid reduced yields.</strong></li>
 <li><strong>Euro-pegged stablecoins like EURC rise, benefiting from Base and MiCA-compliance efforts.</strong></li>
 <li><strong>USDC sees cyclical transaction volumes, with Ethereum and Layer 2s capturing distinct segments.</strong></li>
</ul>
<p>The stablecoin market, currently valued at $170.93 billion, dropped 2.7% since its August 30th high. Although the overall stablecoin supply grew 100x since 2019, recent changes reveal shifts in specific stablecoins.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Global stablecoin supply is down over the last 60 days due to the decline of PayPal’s <a href="https://twitter.com/search?q=%24PYUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$PYUSD</a>; however, the drop in supply looks insignificant compared to the 100x in stablecoin supply since early 2019 — current stablecoin market cap stands at $170.93B<br><br>Get a full overview on… <a href="https://t.co/9WbziDK72D" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/9WbziDK72D</a></p>— OurNetwork <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f50e.png" alt="🔎" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@ournetwork__) <a href="https://twitter.com/ournetwork__/status/1850070402225074271?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 26, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The market dip coincides with a 40% decline in the market cap of PayPal’s PYUSD stablecoin. As PYUSD rewards fell from an initial 17% to below 7%, holder interest waned, affecting the stablecoin’s growth.</p>
<p>Initially attracted to PYUSD through a partnership with Solana’s Kamino Finance, investors pushed its market cap…</p>
<p>The post <a href="https://coinedition.com/stablecoin-market-dips-2-7-as-pyusd-rewards-decline-impacts-growth/" rel="noopener noreferrer nofollow">Stablecoin Market Dips 2.7% as PYUSD Rewards Decline Impacts Growth</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Stablecoin Market Dips 2.7% as PYUSD Rewards Decline Impacts Growth

Coin Edition

Other articles published on Oct 28, 2024

Analyst Calls Out Critic Who Says $35 XRP Price Is Ridiculous

Over $20M Stolen in Major Exploit of U.S. Government-Seized Crypto Wallets

Weekly Article Recap: 10/14-10/18

Modular Blockchain Innovation Gains Momentum with EigenLayer’s Security Solutions

Bhutan Approaches $1 Billion in Bitcoin Holdings

Base Announces Permissionless Fault Proofs Launch on Oct. 30

Join our free newsletter for daily crypto updates!