- 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.