$22 billion of stablecoins has fled exchanges in 5 months: A report into crypto’s capital flight

News link : https://coinjournal.net/news/22-billion-of-stablecoins-has-fled-exchanges-in-5-months-a-report-into-cryptos-capital-flight/

Key Takeaways

• The balance of stablecoins on exchanges is at a 2-year low
• In the last 5 months, over half the stablecoin balance on exchanges has flowed out, equivalent to $22.8 billion
• Treasury yields above 5% have given viable alternatives for investors, with capital fleeing stablecoins
• BUSD shutting down and USD Coin getting caught up with the SVB collapse has also pushed money out
• Tether has its highest market share in two years, despite 30% of its supply on exchanges heading for the exit door since FTX collapsed six months ago