📈 Crypto analytics platform Santiment has estimated that the total market value of the six largest stablecoins (USDT, USDC, BUSD, DAI, TUSD and USDP) has shown signs of revival in recent days.

📉 However, this value has dropped significantly since Q1 last year and the crypto winter has intensified.

🚀 According to Santiment, the total market value of these assets has increased by $660 million in the last two weeks, exceeding $121 billion.

🔍 This is a small improvement compared to the overall decline recorded over the last 18 months. For example, the total value of the largest stablecoins was approximately $165 billion in May 2022 (before the Terra crash).

💥 Events such as the FTX crash in November last year and the US banking crisis in the spring of this year also reduced the value.

🔧 Turmoil in the banking industry, particularly Circle's multibillion-dollar exposure to Silicon Valley Bank (SVB), has significantly impacted USDC's performance. Before the disaster, the stablecoin's market cap was over $44 billion, currently it is around $26 billion.

🥇 However, while the market value of USDT has been steadily decreasing in recent months, the leading stablecoin issued by Tether has significantly increased its dominance over its rivals. Additionally, its market capitalization surpassed $84.1 billion in early August, an all-time high according to CoinGecko data.