• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

USDT and USDC Drive Stablecoin Market Cap to $211 Billion

user avatar

by Giorgi Kostiuk

10 months ago

The stablecoin market soared to $211 billion amid USDC’s positive momentum. Driven by Tether (USDT), the sector has experienced significant growth since 2023.

Growth of the Stablecoin Market

According to a report, the stablecoin market surged by 73% from $121.18 billion in August 2023, hitting an all-time high of $211 billion. Among all stablecoins, USDT shows robust performance.

Dominance of USDT and USDC

The data suggests that USDT and USDC are the most demanded stablecoins in the crypto market. At the time of writing, USDT holds a market cap of $139.45 billion and its ATH market cap of $140 billion was registered in December 2023.

USDC gained an advantage from the recent drawdown in altcoins where investors swapped their crypto holdings into USDC.Alphractal

Impact on Crypto Assets

According to CryptoQuant, the stablecoin market has grown by approximately $40 billion since Donald Trump’s victory in the US election. The growth in stablecoins indicates higher liquidity, suggesting more capital flowing into the crypto market.

The key influence of USDT and USDC on the stablecoin market and increased liquidity could signal a potential rise in prices of other crypto assets such as Bitcoin.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Tempo Blockchain Faces Regulatory and Competitive Challenges

chest

The Tempo blockchain faces challenges including regulatory compliance and competition from established networks.

user avatarSon Min-ho

Stripe and Paradigm Launch Tempo Blockchain for Financial Transactions

chest

Stripe and Paradigm have launched the Tempo blockchain, a specialized platform for high-volume financial transactions.

user avatarAyman Ben Youssef

Tempo Blockchain Set to Transform Digital Payments

chest

The Tempo blockchain by Stripe and Paradigm aims to tackle challenges in digital payments by enhancing scalability, reducing costs, and improving integration with traditional financial systems.

user avatarZainab Kamara

Exploring TWAP and VWAP: Key Strategies for Crypto Traders

chest

This article explores the key concepts of TWAP and VWAP, their functionalities, use cases, and how they can help traders minimize market impact and slippage.

user avatarKofi Adjeman

TWAP: The Stealth Strategy for Large Crypto Orders

chest

TWAP, or Time-Weighted Average Price, is a trading strategy that allows traders to execute large orders without significantly impacting the market.

user avatarTando Nkube

Potential Market Impact if Strategy Fails to Refinance

chest

If Strategy cannot refinance in 2028, it may need to sell a significant amount of Bitcoin, creating substantial market pressure.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.