Stablecoin Market Hits 2-Year Lows In Terms Of Market Cap – What’s Going On?
Significant events in the cryptocurrency sector occurred in September with regard to stablecoins. According to researcher CCData, one notable pattern was the stablecoin market capitalization’s 18th consecutive month of decline, which culminated in a new low of $124 billion, evoking memories of September 2021. For August 2021, that is the lowest amount. In December, the […]
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The algorithmic stablecoin stemming from the Terra (LUNA) network has become the third-largest stablecoin token in terms of market capitalization at $17.54 billion. As of today, UST’s market capitalization has surpassed the BSC-based stablecoin BUSD by more than $67 million.
Stablecoin Terrausd Surpasses BUSD’s Market Valuation
There’s a new leader in the world of stablecoins, as Terra’s dollar-pegged algorithmic cryptocurrency now commands the third-largest stablecoin position, in terms of overall market valuation. Statistics indicate that....
As of September 25, 2021, there’s $129.3 billion worth of stablecoin assets in existence which represents 6.54% of the crypto economy. The second-largest stablecoin by market valuation, USDC, has seen its capitalization increase a great deal, rising more than $10 billion in 125 days. Since May, USDC’s Market Cap Increased by 54% In recent times, Bitcoin.com News has reported on the growth of tether (USDT) as the market capitalization of USDT is near $70 billion today as the supply increased 1,500% in five years. Following that report, our newsdesk reported on the....
The three largest stablecoins represent a combined capitalization of $60 billion. Research from on-chain analytics provider Glassnode has revealed that the top three stablecoins represent more than 90% of the sector’s entire market cap.Glassnode’s April 13 “Week On-chain” report found that the top three stablecoins — Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) — have seen significant growth over the past six months to represent a combined capitalization of more than $60 billion, equal to 92.75% of the stablecoin market.By contrast, six months ago the combined stablecoin....
The crypto market has been struggling to gain momentum in recent weeks, with Bitcoin and major altcoins falling to new lows this cycle. Price action has been far from encouraging, leaving many traders questioning whether the market has already reached its peak. However, a closer look at stablecoin data tells a different story that suggests […]
UST, one of the stablecoins of the Terra project, has become the largest stablecoin by market capitalization today, after having surpassed its Ethereum-based rival, DAI. UST is now the largest decentralized stablecoin in the market, closing a year of growth for the Terra ecosystem, which is now among the most valuable top ten cryptocurrency projects in the market.
UST Flips DAI As The Most Valuable Decentralized Stablecoin
UST, one of the stablecoins derived from the Terra project, has become the most valuable project of its kind by market cap, taking the spot that DAI, another....