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Stablecoin Supply Doubles to 12 billion Following a 50% Cryptocurrency Market Price Drop

The total supply of stablecoins in existence has doubled to 12 billion, following an increased demand sparked off by the March 12 (Black Thursday) 50% crypto price crash. The findings from the latest research study by Coin Metrics, which is sponsored by Bitstamp, show that it took a period between March 12 and the first half of July to add 6 billion stablecoins. Before this addition, it had taken five years for global supply to reach the initial 6 billion. The report comments that the March 12th event was spurred by a massive sell-off in the global equity markets as…

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