Pegged: The stablecoin boom is abating
All that fanfare, but the total value of stablecoins in circulation is falling.
Editorial Hello
Greetings everyone. Since school holidays have officially begun, I’m initiating a new posting regime for the summer period (all the better to parent responsibly).
The Daily Peg will become the intermittent round-up until September. This should allow me to keep generating original content, while still keeping everyone up to date on the big developments and avoiding too much of this scenario:
Plus, don’t forget, Noelle Acheson and I are still collaborating once a week on the new Monetary Forces podcast. Tomorrow’s edition is at 3pm UK time.
Meanwhile, the trend I highlighted last month is not abating but rather, if anything, intensifying. The chart below shows the amount of circulating supply by stablecoin and comes courtesy of Allium:
For those who watch such things, it somewhat resembles the trend in Chinese crude and product stockpiles. I doubt there’s any meaningful connection between the two, but it is still interesting.
