Analysts: Total stablecoin market cap falls to lowest level in over a year, shrinking by approximately $17 billion over six months

Analyst Darkfost stated that the total stablecoin market capitalization has fallen to its lowest level in over a year, dropping from approximately $280 billion in April this year to $263 billion currently, representing a reduction of about $17 billion over the past six months, or roughly a 6% decline. Darkfost noted that Binance still accounts for approximately 70% of the stablecoin supply across centralized exchanges, but the 90-day moving average of its platform's stablecoin market cap has shown a noticeable decrease. Following the attack on Binance, this figure fell from around $51 billion to $34 billion, during which approximately $3 billion in stablecoins were transferred out.