**Fed Rate Cuts: Stablecoins' Wallets Feel the Pinch! đ€**
- The Federal Reserve's recent interest rate cuts are shaking up the stablecoin world, with top five centralized stablecoins holding $125 billion in US treasury bills.
- Treasury bills make up 80.2% of major stablecoin reserves, potentially slashing $625 million in interest income for each 50-bps cut.
- Markets predict a 75-bps rate cut by end-2024, totaling a whopping $1.5625 billion revenue loss for stablecoins.
- Tether (USDT) leads with $93.2 billion in T-bills, followed by Circleâs USDC with $28.7 billion.
- Despite a 1.50% rise in total market cap to $172 billion, trading volumes are down 39.4% to $683 billion.
- USDT dominates trading volume at 77.2%, with FDUSD and USDC trailing behind.
Stay tuned for more crypto capers!