According to Glassnode experts, investors have withdrawn more than $14.3 billion from stablecoins since the start of spring.
They have noted that the supply of fiat-backed digital currencies has declined by about 8% since March compared to early spring 2021.
It is true that capital predominantly went into stablecoins in 2020 and 2021, however, the situation has changed dramatically in 2022.
The outflow of funds from collateralized digital currencies was triggered by the collapse of the Terra ecosystem in May this year. The subsequent industry crisis and the bankruptcy of cryptocurrency companies forced traders to reallocate capital to other assets.