Stablecoins shed $38B since May as yields plunge, projects collapse

by Aurelia Butler 6 October 2022, 19:00 119 Views

Meanwhile, the yields on stablecoin borrowing and lending on decentralized protocols (DeFi) such as Aave have fallen sharply. Back in May, the annual variable percentage rates (APR) on Binance USD, USD Coin, and DAI loans stood around 3.5%. Their APRs have since fallen to about 1.5%. Meanwhile, their utilization rates, or the percentage of stablecoins taken out as loans versus total supplied, have also fallen to around 30% to 40%, whereas the optimal levels for the protocols are about 80%.

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Source: Cryptocurrency - investing.com

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Stablecoins shed $38B since May as yields plunge, projects collapse

Ethereum open interest hits $7.7B, raising the chance of a short squeeze above $1.5K

Pentagon awards $200 million spacecraft contract to private venture York

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