Onchain researchers at Santiment say that tether addresses valued at $1 million own more than 80% of the entire supply. USDT USDC UST Stablecoins
) recorded by coincarp.com indicates that ten ethereum-based addresses hold 73.77% of the UST supply. Of course, this data is based on EVM-based UST and the 28,737 holders.
The top 100 UST stablecoin addresses on Terra hold 97.70% of the coins in circulation. Coingecko.com data shows there’s approximately 11,256,872,859 UST in circulation on February 8, 2022. At the same time, EVM-based UST stands at 947.5 million in circulation today. While there is $179 billion worth of fiat-pegged tokens in existence today, stablecoins are not as liquid as circulation metrics suggest, especially when it comes to the concentration of large holders.
With the advent of stablecoin liquidity pools, many owners are simply holding stablecoins because they are less volatile and can accrue an annual percentage yield of up to 18% or more.
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