Binance Research reports stablecoins on a continuous decline in monthly report
On Oct. 5, Binance Research released a monthly market report with numbers indicating a continuous decline on stablecoins, which hit a low of US$123.8b. The report reveals that this month marks the 18th month in a consecutive decline. Dives deeper The full report shares that in September, the cryptocurrency market remained remarkably steady, exhibiting minimal fluctuations in total market capitalization. Notably, the announcement of FTX asset liquidation and the FOMC meeting briefly disrupted this tranquility; however, the market went on to absorb these disruptions. Binance Research adds that stablecoins are now at a level which has not been seen since September 2021, which the firm attributes to a combination of factors, with one example being elevated interest rates. You might also like: Binance’s 2017 ICO flopped, exchange reportedly raised $5m Other findings show that September saw significant changes in DeFi perpetuals as ApolloX surged to promine...