Stablecoins Total Market Cap Breaches $179 Billion Mark – Can It Go Higher?
Stablecoins, the digital currency that is the talk of the town, are gradually taking over the crypto world as more users and corporations vie for its benefits. Such news doesn’t come as a surprise anymore. As the total value of the world’s 12,333 digital currencies approaches $1.8 trillion, the stablecoin economy has recently grown to $179 billion, or nearly 10% of the total crypto economy. This record has been much quicker to attain compared to last year, where it took around two months to see the transfer volume surpass $150 billion. In 2020, it took nine months to surpass this....
Related News
Bitcoin has dropped below the $30k mark, while stablecoins go strong as they surpass over $100 billion in total supply. Total Stablecoin Supply Is Now More Than $100 Billion According to a report by Arcane Research, the total stablecoin supply has now surpassed the $100 billion mark, while Tether’s dominance is declining. Here is a chart that shows the trend in the total supply and dominance of some popular coins: The stablecoins total supply as reached a new height There are a few interesting features in the graph. The total supply of these coins used to be only $11 billion in July....
Ethereum has been up with the recovery in the market, growing as fast as bitcoin in the space. This has seen the market cap of the cryptocurrency rise rapidly. While it had lost its footing in the list of top assets by market cap in the world following the price crash, it has since gained back enough of its previous value to put the digital asset above some of the largest companies on the list. Ethereum Is Bigger Than Walmart With a recovery above $3,200, Ethereum has once again solidified its place as one of the most valuable assets in the financial sector. Although it is only half a....
Despite the FUD around stablecoins, the percentage of stablecoins in the total market cap has been growing recently, hitting new all-time highs. The rapid surge in share of stablecoins like Tether (USDT) in the cryptocurrency market may point to an upcoming crypto upside, according to analysts at the American investment bank JPMorgan Chase.The percentage of stablecoins in the total crypto market value has been on the rise, reaching new historical highs in mid-June, JPMorgan strategists believe. Led by JPMorgan crypto market analyst Nikolaos Panigirtzoglou, the analysts provided their....
During the last two years since the initial bear market after the 2017 bull run, stablecoins have been extremely popular. Today, statistics show that the market capitalization of all the notable stablecoins today is hovering above the $23.9 billion mark. Out of more than 30 stablecoins in 2020, tether is still a behemoth capturing 76.15% of the entire market share. Since January 2016, the stablecoin tether’s market valuation has grown a whopping 1.9 million percent from $951k to $18.5 billion. Tether’s Market Cap Jumps from a Million to Over $18 Billion in a Four-Year Time Span....
During the last month, four out of five of the top stablecoins by market capitalization saw their valuations swell in size. At the time of writing, there’s $135.4 billion in stablecoins but the top five collectively represent 94.40% of that total. While the largest stablecoin in terms of market cap increased by 2% over the last 30 days, the stablecoin DAI issued by the Makerdao protocol expanded by 22%. Tether and Circle’s USD Coin Rule the Roost Stablecoins are very popular these days and it’s safe to say that these dollar-pegged tokens are not going anywhere any time....