Report: Stablecoin supply fell 2.7% from its peak at the end of August and is expected to rebound as the US election approaches to boost the market

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ODAILY
2 days ago
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According to the research report by , the global stablecoin supply has declined by 2.7% from the peak on August 30, but with the approaching US election, the cryptocurrency prices are rising, and the stablecoin supply is expected to rebound. The report points out that the relatively lower stablecoin supply in the past 60 days is related to the decline in the supply of 's PYUSD, as several DeFi protocols had previously launched liquidity incentives related to it. The report further states that at the peak, the annual interest rate for lending PYUSD on was close to 20%, but now it is only 7.9%. Additionally, the supply of stablecoins pegged to the Euro is growing, with
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