The monthly Stablecoin Report provides a detailed analysis of stablecoins in the crypto market. The report examines market data to identify the top stablecoins based on market capitalization, dominance, and trading volume. Tether emerges as the dominant stablecoin in all three categories, followed by USDC and Dai. These figures highlight the significance of Tether in stablecoin markets.
The report also delves into stablecoin price analysis, showcasing the performance of the top eight stablecoins over the past month. Ethena USDe stands out with a 210% increase, while TrueUSD and Frax experience notable declines. Additionally, the analysis includes the one-month % Off Peg, indicating how closely stablecoins align with their intended pegged value.
Furthermore, the report explores stablecoin dominance across various blockchains. USDT is prevalent on Tron and Ethereum, indicating widespread usage on these platforms. Similarly, USD Coin and Dai have strongholds on Ethereum, while other stablecoins show varying degrees of dominance on different blockchains. This data underscores the importance of blockchain ecosystems in shaping stablecoin transactions.
Lastly, the report examines stablecoin engagement on cryptocurrency exchanges, both centralized and decentralized. Stablecoin trading pairs feature prominently in the top pairs on exchanges like Binance, Coinbase, and OKK. In decentralized exchanges like Uniswap, stablecoin pairs contribute significantly to trading volumes, indicating their vital role in facilitating liquidity and trading activities.
Overall, the Stablecoin Report offers a comprehensive overview of stablecoin performance and trends in the market, showcasing the growth and impact of these digital assets. It provides valuable insights for stakeholders interested in understanding the dynamics of stablecoins in the evolving crypto landscape.
