An Overview Of The Stablecoin Market
The U.S. dollar accounts for nearly 100% of stablecoin value and a window of opportunity for policymakers has emerged with the collapse of UST. In this excerpt from Bitcoin Magazine Pro, we will take a more in-depth look at the redemption mechanism of USDT, and cover why the concerns about the stablecoin and the apparent risks it presents to the bitcoin/cryptocurrency ecosystem. Before digging in, it should be said that the advent of bitcoin on a long enough timeframe obfuscates the need for a “stablecoin,” which is really just a blockchain-based IOU held by a counterparty. A digital....
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Roughly two months ago on April 11, the stablecoin economy was valued at $190 billion and was getting closer to surpassing $200 billion in value. However, after the Terra stablecoin fallout, the fiat-pegged token economy lost $16.31 billion in value since then. While that value was erased from the stablecoin market, stablecoins themselves represented 9.35% of the entire crypto economy’s net U.S. dollar value at the time. 61 days later, the crypto economy is worth roughly $1.15 trillion and the stablecoin economy represents 13.8% of that total today.
In 61 Days, Stablecoin....
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....
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....
The stablecoin economy has grown during the last month as the market capitalization is now only $10 billion away from reaching the $200 billion mark. While the largest stablecoin, by market valuation, tether (USDT) swelled by 3% during the last 30 days to $82 billion, terrausd (UST) has increased by 15.4% to $16.7 billion.
Stablecoin Economy Swells by 1.65% in 30 Days Nearing the $200 Billion Milestone
According to statistics on Monday, April 11, 2022, the stablecoin economy is worth $190.1 billion. During the last 24 hours, stablecoins have captured $68 billion in trade volume....
While USDT has observed a decline in its marketshare during the year 2022 so far, the stablecoin still retains its place at the top. USDT Is Still Number One In Stablecoin Market, USDC Remains 2nd According to the latest weekly report from Arcane Research, USDT’s share of the stablecoin market has now gone down to […]