The Number of Euro-Pegged Stablecoins Has Swelled 1,683% Since 2020
While the stablecoin economy is worth roughly $153 billion today, euro-backed stablecoin issuance has increased 1,683% from $31.9 million worth of euro-based tokens on January 3, 2020, to today’s $569 million. Since November 2021, the number of euro stablecoins swelled by 85.34%, but from January 2022 to today, euro stablecoin numbers dropped 14.17% during the last seven months. Euro-Pegged Stablecoins Cross Half a Billion in Value Since the Start of the Year Today, most of the stablecoin economy’s value is based on tokens backed by the U.S. dollar, but a small number of....
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The crypto world does not have a major euro-pegged stablecoin yet. A number of popular U.S. dollar-pegged stablecoins exist on the crypto market. Stablecoins based on the euro also exist, but are notably less liquid, according to Zahreddine Touag, co-founder and head of trading at Paris-based market making firm Woorton.“There’s not any euro stablecoin that is very liquid,” Touag said on Thursday during a Paris Blockchain Week conference panel, noting multiple points of rationale. The most impactful reason: “It’s very costly to do a euro stablecoin,” he noted, adding:“The primary source of....
France’s Finance Minister Roland Lescure has called for the development of more Euro-pegged stablecoins. This comes amid rising tensions between the European Union and the US, as the EU seeks to weaken US dominance over its payment systems. Related Reading: Crypto Shockwave: Circle Sued As $280 Million Drift Hack Unravels Euro-Stablecoins: Europe’s Push For Financial […]
A great number of digital currencies have swelled in value this year and as the end of 2021 approaches, the market capitalization of all 11,000+ crypto assets in existence is roughly $2.6 trillion. These days, it’s safe to say that dollar-pegged tokens, otherwise known as stablecoins, have a strong presence in the crypto market. Today the market capitalization of all the stablecoins in the world is more than $152 billion or 5.84% of the crypto economy’s USD value.
Stablecoins Have Seen Massive Growth Within the Crypto Economy
Stablecoins have been a hot topic in....
Over the last few weeks, cryptocurrency markets have fallen in value as most of these assets reached all-time price highs three months ago. Despite the price drops, 2021 has still been an explosive year for crypto gains and fiat-pegged stablecoins have grown massively as well. 53 days ago, the entire capitalization of fiat stablecoins crossed the $100 billion mark, and the stablecoin market valuation continues to grow, swelling 13% since the end of May. Stablecoin Market Valuation Grows by 13% in 30 Days, Tether Issuance Slows Stablecoins have made their mark in the crypto economy over the....
At the end of December 2021, the stablecoin economy’s market valuation was around $168.3 billion and since then, it has increased 9.92% to $185 billion in value. A number of stablecoins have issued more assets during the last seven days, as some of the top dollar-pegged coins have swelled by more than 20% since the past week.
Stablecoin Economy Continues to Grow
As cryptocurrencies have dropped in value during the last two weeks and the crypto economy fell below the $2 trillion range, stablecoins issuance continues to fill demand. At the time of writing, the entire....