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Behind the Stablecoin Decline: Key Moves Dictating Market Changes

Published 31/08/2023, 15:55
Behind the Stablecoin Decline: Key Moves Dictating Market Changes
PYPL
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  • Stablecoin activity is declining, but data shows complex strategic moves shaping the market behind the scenes.
  • Major players like Maker and new entrants like PayPal (NASDAQ:PYPL) are disrupting, while incidents like the CRV drama have triggered huge outflows.
  • The report reveals an ecosystem in flux, with funds moving and rates fluctuating as participants reassess options.

The stablecoin ecosystem is undergoing dynamic change, according to new analysis by on-chain data firm Santiment. Stablecoins, cryptocurrencies designed to maintain a steady value, have faced declining activity and supply in recent months. However, Santiment’s report reveals the key events and strategies shaping the market beneath the surface.

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