Stablecoin Market Cap Climbs $4.85 bn In 30 Days
The combined market capitalization of leading stablecoins has increased from $131.71 billion to $136.56 billion in the past month.
Tether and USD Coin have seen significant expansions in their supplies, with Tether experiencing a 4.8% increase and USD Coin experiencing a 7.2% growth.
The stablecoin market has grown by approximately $4.85 billion over the past 30 days, with Tether just 4.09 billion short of reaching 100 billion tokens in circulation. Circle’s USD Coin (USDC) has also seen a 7.2% increase, surpassed by USDT.
DAI, the third-largest stablecoin in terms of market valuation, experienced a slight decline, falling by 0.8%. First Digital USD (FDUSD) saw a significant surge in supply, reaching $2.57 billion.
TrueUSD (TUSD) is in fifth place, but has experienced a sharp decline in supply, decreasing by 30.6% over the past 30 days.
Other stablecoins like Tron’s USDD, Frax Dollar (FRAX), Paxos’ USDP, Paypal’s PYUSD, and Alchemix USD (ALUSD) also experienced declines.
Overall, the stablecoin market has seen significant growth and expansion, with Tether and USDC leading the way.
(With inputs from Shikha Singh)
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