Crypto Trading Slumps After US Bank Failures; Stablecoins Shift Overseas

Institutional crypto trading fell sharply after US bank failures in March per Chainalysis.

Chainalysis report says trading volume above $10M dropped while smaller trades stayed constant.

Banking crisis exacerbated existing slowdown in trading since crypto exchange/lending failures in 2022.

Stablecoin activity shifted from US to overseas after loss of crypto-friendly US banks.

Tether took stablecoin market share from Circle USD after briefly losing dollar peg.