Stablecoin Market Suffers Biggest Monthly Drop Since Terra’s Collapse

The stablecoin market experienced a significant decline in November, with a drop of at least $6 billion in value, marking its largest monthly contraction since the collapse of Terra’s Luna and UST in 2022. Data from DeFiLlama reveals this sharp drop in total stablecoin values, highlighting a shift from the sector’s previous status as the crypto market’s stable center to one grappling with uncertainty.