Stablecoin supply falls $17B as Solana card spending hits $141M

Stablecoin liquidation continues to drop throughout the cryptocurrency markets, reducing capital that will be used to support investor and trader transactions. In April, the total amount of all stable coins was $280 billion, and it has now decreased to $263 billion. This decrease in value represents a 6% reduction from April to date. Binance is experiencing a much larger loss than many of the other large cryptocurrency exchanges due to the decrease in its reserve of stablecoins. Prior to the recent losses, Binance held around $51 billion worth of stablecoins in reserve. Currently, that number stands at approximately $33.9 billion. The recent losses experienced by Binance are reflective of the recent hacking incident, which saw an approximate loss of $3 billion removed from the platform.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to AMBCrypto.