Crypto Market Sees Major Ranking Shifts and TrueUSD Depeg in Volatile Q4
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Several top 30 cryptos by market cap changed positions in Q4 2023, including Solana jumping from 7th to 5th position.
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Overall crypto trading volume declined in 2023 but increased 91.9% from previous quarter in Q4.
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Four cryptos dropped out of the top 30 rankings Hedera, Binance USD, Monero, and TrueUSD.
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TrueUSD stablecoin recently depegged below $0.97 due to major outflows of funds.
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Binance announced it will stop supporting its BUSD stablecoin after issuer Paxos was ordered to cease minting it.