Stablecoin Market Dips 2.7% as PYUSD Rewards Decline Impacts Growth

Quick Summary:

The market dip coincides with a 40% decline in the market cap of PayPal’s PYUSD stablecoin.

The stablecoin market, currently valued at $170.93 billion, dropped 2.7% since its August 30th high.

Although the overall stablecoin supply grew 100x since 2019, recent changes reveal shifts in specific stablecoins.

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Article Details

Author / Journalist: Coin Edition

Category: Crypto

Markets: India

Topics: Ethereum Market Analysis Market News News Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 08:51:13 (12 hours ago)

News Timezone: GMT +0:00

News Source URL: coinedition.com

Language: English

Article Length: 134 words

Reading Time: 1 minutes read

Sentences: 50 lines

Sentence Length: 3 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinedition

News ID: 23282160

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About Coinedition

Main Topics: Crypto

Official Website: coinedition.com

Update Frequency: 8 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 11 hours ago

Coverage Areas: India

Publication Timezone: GMT +0:00

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Publisher ID: #124

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