Stablecoin FRAX Grew More Than 36% Last Month
Meanwhile, out of the top five stablecoins by market cap, the third-largest USD-pegged token, BUSD, saw its capitalization increase by 12.7% to $16.2 billion this month. Terra’s stablecoin UST increased by 9.8% to $11.3 billion in 30 days. Makerdao’s DAI saw its $9.2 billion market capitalization increase by 1.1% this past month. The Avalanche-based magic internet money saw its $2.8 billion valuation slide 37.2% lower than it was last month. The seventh, eighth, and ninth-largest stablecoin markets saw their market caps rise.
The seventh-largest USD-pegged coin frax has a market capitalization of $2.6 billion which has increased 36.2% during the last month. Trueusd’s cap spiked 17.7%, and pax dollar rose by 3.3% over the last 30 days. The tenth-largest stablecoin, fei usd , has decreased by 26.3% this past month. Both FRAX and USDC saw the largest increases last month.
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