Here’s the full scope of UST’s de-pegging on the stablecoin market

ambcrypto.com:

Following the collapse of TerraLUNA in May, never-before-seen attention has since been placed on stablecoins. In fact, there are many who still harbor doubts about the ‘stability’ of this class of cryptocurrency assets. 

According to Dune Analytics, algorithmic stablecoins have seen the most growth over the past year. Algorithmic stablecoins, including Ampleforth, USDD, Frax, Alchemix, and even the collapsed UST, have logged a collective hike of 115.22 %. Fiat-collateralized stablecoins, on the other hand, have appreciated by 29.28 % over the same period.

Of all kinds of stablecoins (Algorithmic, fiat-collateralized, and crypto over-collateralized), algorithmic stablecoins’ supply, however, remains the lowest. According to Dune Analytics, the supply of algorithmic stablecoins in the last year stood at 2,253,938,177.

For crypto over-collateralized stablecoins, supply over the past year was pegged at 8,585,410,440. With 97,074,596,562 logged as total supply this past year, fiat-collateralized stablecoins led the pack with the most supply. The reason for this is not far-fetched. Centralized bodies float this category of stablecoins, and they have stronger reserves.

Source: Dune Analytics

Furthermore, with 90% of the total market share, fiat-collateralized stablecoins are the most used in this category of cryptocurrency assets. In fact, this has been the case for over two years now. 

Source: Dune Analytics

With only a 2% share of the entire stablecoin market, algorithmic stablecoins have had a difficult year, one aggravated by the collapse of Terra’s UST.

Since the stablecoin de-pegged in May, the adjusted on-chain volume of algorithmic stablecoins has fallen by 91%. At the time of writing, algorithmic stablecoins in the market had