"The disruption rippled through several DeFi protocols, including Aave, where large volumes of users unwound positions, many opting for the stablecoin exit route."
"Tether's USDT continues to dominate with a commanding market cap of $189.78 billion, logging a 1.55% increase over the past week."
"Circle's USDC posted a -1.01% weekly decline, reducing its market cap by approximately $794 million between April 19 and April 26."
"World Liberty Financial's USD1 stands at a $4.39 billion market cap and has posted the strongest weekly advance among leading stablecoins with a 4.34% increase."
The KelpDAO breach led to a significant contraction in total value locked (TVL) across decentralized finance, with $892.8 million in stablecoin outflows. Tether's USDT maintained dominance with a market cap of $189.78 billion, while USDC and USDS experienced declines. USDC fell by approximately $794 million, and USDS lost close to $159 million. DAI recorded a 1.55% weekly gain, contrasting with the overall trend. The stablecoin market remains tight at $320.65 billion despite these fluctuations.
Read at news.bitcoin.com
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