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UEV Daily Dashboard:

In terms of historic events, the collapse/shutdown of Silicon Valley Bank (SVB) and its devastating effect on Circle's USDC supply will undoubtedly go down in crypto history. After reaching $56b of supply in June of 2022, USDC supply dwindled slowly until March of 2023 where it decreased by ~$20b in 6 months time. At the start of the event it also caused a widespread stablecoin depegging event affecting USDC, DAI, and others. Because of this, Tether's USDT has seen the majority of inflows this cycle but USDC is finding some footing bringing back ~$10b since then.

UEV Daily Dashboard:

In terms of historic events, the collapse/shutdown of Silicon Valley Bank (SVB) and its devastating effect on Circle's USDC supply will undoubtedly go down in crypto history. After reaching $56b of supply in June of 2022, USDC supply dwindled slowly until March of 2023 where it decreased by ~$20b in 6 months time. At the start of the event it also caused a widespread stablecoin depegging event affecting USDC, DAI, and others. Because of this, Tether's USDT has seen the majority of inflows this cycle but USDC is finding some footing bringing back ~$10b since then.

https://dune.com/panickman/usdc-supply-change-since-svb-shutdown