Executive Summary: Stablecoins & CBDCs October 2023

We are delighted to release CCData’s latest Stablecoins & CBDCs Report . In this report, we provide insight into the latest developments in the stablecoin and CBDC sector, focusing on analysis that relates to market capitalisation, trading volume, peg deviation and more. CCData’s latest Stablecoins & CBDCs Report offers insight into the latest developments in the stablecoin and CBDC sector, focusing on analysis that relates to market capitalisation, trading volume, peg deviation and more. The data as of October 12th suggests that the total stablecoin market cap is trending towards the nineteenth consecutive decline, with the market cap falling 0.14% to $124bn. Access the full report here . Key takeaways: Stablecoin Market Cap Continues to Trend Down . The data as of October 12th suggests that the total stablecoin market cap is trending towards the nineteenth consecutive decline, with the market cap falling 0.14% to $124bn. USDT Dominance Reaches the Highest Level Since February 2021. In October, the market capitalisation of USDT rose 0.37% to $83.5bn, pushing the market dominance to 67.5%, the highest since January 2021. USDC Market Cap Continues to Slide in 2023. In October, the market capitalisation of USDC fell 0.54% to $24.6bn (as of Oct 12th). This recorded the tenth consecutive decline in market capitalisation for the stablecoin. Stablecoins & CBDCs Report USDT Dominance Reaches the Highest Level Since February 2021 In October, the market capitalisation of TetherUSD rose for the second consecutive month, rising 0.37% to $83.5bn (as of the 12th). The market dominance of USDT currently stands at 67.5%, the stablecoin’s highest market share since January 2021. This represents a 19.5% increase in market share since the start of the year. USDC Market Cap Continues to Slide in 2023 In October, the market capitalisation of USDC fell 0.54% to $24.6bn, recording the stablecoin’s tenth consecutive decline in market cap (data as of Oct 12th). Meanwhile, the trading volumes on centralised exchanges for USDC trading pairs fell 18.7% to $30.0bn, in line with the general market conditions last month. Created using data from CCData Real-USD (USDR) Depegs Following DAI Redemption On October 11, Tangible DAO’s Real USD which is backed by assets including real estate properties, depegged to $0.68 after their treasury was drained of all of liquid DAI. Almost $12mn of DAI was redeemed from the day before, causing a bank run on the stablecoin, with on-chain data showing a drop in stablecoin’s reserves from nearly $80mn to $47.8mn on the day. Created using data from CCData Enjoy what you’ve read so far? Visit our website to download the Stablecoin Report and access our full research suite, where we explore topics such as exchange volumes, digital asset investment product flows, DeFi, and more! Stablecoins & CBDCs Report Want to stay up to date with everything crypto? Subscribe to our mailing list and get our monthly research reports and insights delivered straight to your inbox. CCData’s suite of market-leading trade, order book, derivatives, blockchain, social, and historical data, spanning thousands of cryptocurrencies and 300+ exchanges, is also available via our API here: https://developers.cryptocompare.com Executive Summary: Stablecoins & CBDCs October 2023 was originally published in CCData on Medium, where people are continuing the conversation by highlighting and responding to this story.