In the past 12 months stablecoin Its economy has grown unexpectedly and is only $13 billion away from its current value of $200 billion. This month, Terra UST was the biggest winner in terms of 30-day supply, with 29.9%, while Neutrino Protocol’s USDN has grown tremendously, up 43.8%.
Stablecoin Market Cap Continues to Increase, Tether Over $80 Billion!
Looking at the monthly statistics, it is the largest stablecoin in terms of market capitalization. Tether (USDT) It was up 2% this month, bringing its total value to more than $80 billion. USDT is a huge player compared to other stablecoins in the crypto economy as it represents 42.78% of the $187 billion stablecoin economy today.
Also, Tether’s $80 billion market cap equates to 4.46% of the entire $1.83 trillion crypto economy. The second largest stablecoin by market capitalization USD Coin (USDC) rose just 0.3% last month.
USDC has a market cap of around $52.3 billion today, which equates to 2.92% of the crypto economy and 27.96% of the stablecoin economy. Measurements made on March 14, 2022 show that between USDC and USDT, their market capitalizations equal more than 70% of the total stablecoin economy.
The largest assets traded in Tether (USDT) were US dollars with 42.16% of today’s share and Turkish Lira (TRY) with 17.41%. TL is followed by Euro, WBNB and HUSD. USDC trades a lot with tether as USDT represents 64.18% of Tether exchanges on Monday. BUSD, USD, EUR and WETH follow Tether as the top pairs to trade with USDC (USDC).
USDT and USDC did not see a significant increase in the last month, while UST, FRAX and USDN saw an increase in their 30-day supply. Terra UST is up 29.8% and today the stablecoin has a market cap of approximately $14.7 billion at the time of writing.
Frax (FRAX) increased its 30-day supply rate by 9.6%, and Neutrino Protocol’s USDN rose 43.8% last month. FRAX has a market cap of $2.9 billion and USDN has a market capitalization of $638 million today.
Makerdao’s stablecoin DAI saw supply levels drop 4.6% last month, and magic internet money (MIM) lost 0.2% last month. Ethereum-based DAI has a market cap of $9.3 billion, while Avalanche-based MIM has a market cap of $2.7 billion.
Overall, the entire stablecoin economy has only $13 billion to rise before it crosses the $200 billion region. At the time of writing, the $187 billion stablecoin economy represents more than 10% of the $1.83 trillion crypto economy.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.