The stablecoin market cap, excluding algorithmic stablecoins, has reached a brand new all-time excessive of $168 billion, surpassing the earlier report set in early 2022
The stablecoin market cap, excluding algorithmic stablecoins, has reached a brand new all-time excessive of $168 billion, surpassing the earlier report set in early 2022. This development marks 11 months of constant growth, as reported by DefiLlama.
Tether (USDT) maintains a dominant 70% market share with a valuation of $117 billion, whereas Circle USD (USDC) holds $34 billion. The surge in stablecoin market capitalization is pushed by elevated demand, with PayPal’s stablecoin, PYUSD, experiencing a 157% enhance in market cap over the past 30 days, now surpassing $600 million.
The market’s growth is additional supported by the introduction of recent asset-backed stablecoins, together with these pegged to gold and the euro. This improvement signifies new cash getting into the crypto house, regardless of a decline in buying and selling volumes.
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