Almost all stablecoins have seen their market caps dramatically reduced since the collapse of the Do Kwon-founded Ponzi scheme Terra/Luna in May and June of last year.

Binance USD has been hit particularly hard — its market cap has crumbled from $22 billion to $10 billion over the last three months. What’s peculiar, however, is the upward momentum of the Justin Sun-controlled stablecoin TUSD which has seen its market cap balloon from $750 million in December to nearly $1.2 billion today.

Hosted on Acast. See acast.com/privacy for more information.