Notably, the Stablecoin market capitalizations have significantly shifted across multiple blockchains over the past few days. The total market capitalization when combined with all the chains has reached an impressive $172 billion. Notably, this is just $15 billion away from its all-time high (ATH) of $187 billion which was recorded in 2022. However, during that year the total market capitalization dropped to $157 billion following the collapse of UST that resulted in LUNA price losing 99% of its value.

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