• 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

a year 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

Aave transfers control of Lens Protocol to Mask Network.

chest

Aave has redefined its role in DeFi governance by transferring stewardship of Lens Protocol to Mask Network.

user avatarLi Weicheng

Pendle Introduces New Governance Token to Enhance Participation

chest

Pendle announced a governance revamp, replacing vePENDLE with a new token, sPENDLE, to enhance participation in the DeFi sector.

user avatarAisha Farooq

Postponement of CLARITY Markup Raises Regulatory Concerns

chest

Postponement of the Digital Asset Market Clarity Act (CLARITY) raises regulatory concerns regarding decentralized finance.

user avatarLeo van der Veen

Traders Show Strong Interest in Pudgy Penguins Ahead of NFT Airdrop

chest

Pudgy Penguins sees increased trading activity as the January 29 snapshot for the Human Resource NFT airdrop approaches.

user avatarTenzin Dorje

Ethereum's Resilience in the Face of Quantum Threats

chest

Ethereum has shown remarkable adaptability with its Merge, demonstrating resilience against quantum threats despite a recent market decline.

user avatarBayarjavkhlan Ganbaatar

Historical Trends Suggest Potential Market Adjustments

chest

Historical analyses indicate that past search trends can trigger significant changes in market outlooks, with corresponding spikes in trading volume and price adjustments.

user avatarMohamed Farouk

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.