Add as a preferred source on GoogleEthereum Stablecoin Market Cap Falls 2.07% in 30 Days Ahead of Fed Decision
Ethereum held $142.46 billion in stablecoin market capitalization on Oct. 27, about 47.6% of the $299.196 billion tracked across chains. The measure does not show why it changed or predict Ether (ETH) prices.
Ethereum's stablecoin market capitalization fell 2.07% over the 30 days through Oct. 27 to $142.46 billion, a contraction in the value tracked on the network ahead of the Federal Reserve's policy decision Wednesday.
Stablecoins are crypto assets designed to maintain a stable value. Their market capitalization measures their total value on a network; it does not record where tokens moved or why the value changed.
Ethereum accounted for about 47.6% of the $299.196 billion in stablecoin market capitalization tracked across all chains. That share describes Ethereum's portion of the total, but it does not identify what drove the 30-day decline.
The decrease does not establish whether stablecoins were redeemed, transferred to other networks or affected by another factor. It also does not predict the price of Ether (ETH), the cryptocurrency associated with Ethereum.
The Federal Reserve is scheduled to release its policy statement Wednesday, Oct. 28, at 2 p.m. ET (18:00 UTC), followed by a press conference at 2:30 p.m. ET (18:30 UTC).
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.