The combined market cap of the largest stablecoins reached a peak of $186 billion in May, before the Terra/LUNA collapse, the note said. That compares with less than $30 billion at the start of 2021 and about $5 billion a year before that. Since May, the stablecoin universe has dropped by $41 billion, with just under half of the decline attributed to the demise of Terra.
Source: https://www.coindesk.com/markets/2022/11/17/jpmorgan-the-shrinking-stablecoin-market-is-another-sign-of-investors-exodus-from-crypto/?utm_medium=referral&utm_source=rss&utm_campaign=headlines