Over the past six months, the overall market capitalization of stablecoins has dropped from $138 billion to $124 billion.
USDT had the largest share of capital that exited BUSD and USDC, comprising a high of $83 billion in May.
Daily trading volume across the major stablecoins reached around $53 billion in March, yet that decreased to $28 billion by May.
Fitch highlighted the safety of stablecoins compared to other digital currencies, as they are supported by real assets.
Tether confirmed its funds, increasing their proportion of US Treasury bonds to 65% in the 1st quarter of 2023. In an effort to renew trust in BUSD, Binance reallocated funds to long-term US government securities, said Fitch.
