AMB Crypto reports that over the past seven months, the Gemini Dollar (GUSD) market capitalization has suffered an 88% decline. This is due to the growth of competitors such as Tether and Paxos.
Gemini Dollar losses for 7 months
Looking at the graph of the market capitalization of Gemini Dollar, users observe a significant price reduction. In December, the cost of GUSD was 103.91 million dollars, and now it is only 12.35 million dollars. There was a decrease in the total cost of 88.1%.
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It seems that GUSD does not attract an audience that was previously hoped for and can no longer blame the "bear market" for its recession. This situation is due to the growth of competitors such as Tether and Paxos, as well as the creation of Facebook cryptocurrency.
GUSD's market capitalization suffered an 88% decline in 7 months. Recall, on April 18, Gemini announced the addition of "full" support for the generated SegWit protocol, an important change in Bitcoin code that paves the way for scaling improvements.
Editor: Alyona Nabok