The market value of the stable currency market fell to $300 billion, the third largest retreat in history

According to the encryption trading company Cumberland, the market value of the stable currency market has dropped to about $300 billion, the third largest withdrawal in history. Cumberland states that the market value of the stable currency fell from approximately $321 billion on 20 May to $305 billion, a decrease of about 5 per cent. As at 16 August, DefiLlama's data showed that the total market value of the stable currency market was even lower, at about $30.76 billion, of which Tether's USDT accounted for 60.84 per cent of the market. Unlike in the past, the dollar-linked USDT and USDC were stable, with USDT prices varying between 0.998 and 0.9992, while USDC generally remained above 0.9997. According to Cumberland, this indicates that capital is flowing out of the encrypted market in an orderly manner, rather than that investors have lost confidence in USDT or USDC。