ETH-based stablecoins, tokenized fund market cap down 19% since Kelp DAO hack

The combined market capitalization of Ethereum-based stablecoins and tokenized funds fell 19% over seven months after the Kelp DAO hack in April caused about $292 million in losses, according to blockchain data platform Token Terminal. Token Terminal said the combined market cap of the two asset classes shrank to $168.3 billion as of Nov. 8 from about $206.7 billion on April 18, the date of the Kelp DAO hack. Stablecoin market capitalization fell to $153.3 billion from $182.0 billion, while tokenized fund market capitalization dropped to $15.0 billion from $25.1 billion.