• 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

Bitget Reports Significant Ecosystem Expansion with AI Tools and Payments

chest

Bitget's review highlights significant growth in AI tools and consumer payment solutions, enhancing user engagement.

user avatarElias Mukuru

The Importance of Mental and Physical Health in Professional Poker

chest

The importance of mental and physical health for professional poker players is crucial for success in long tournament sessions.

user avatarDavid Robinson

The Integration of GTO and Exploitative Strategies in Poker

chest

Modern tournament success in poker relies on the integration of Game Theory Optimal (GTO) play with exploitative strategies, enhancing players' ability to maximize profits.

user avatarAndrew Smith

UAE Collaborates with Georgia to Innovate Real Estate Tokenization

chest

The UAE's PRYPCO has signed a Memorandum of Understanding with Georgia's Ministry of Justice to develop a compliant framework for real estate tokenization, aiming to modernize processes and enhance investor confidence.

user avatarDiego Alvarez

Employers Embrace Crypto Payroll Systems

chest

Employers are increasingly adopting crypto payroll systems to pay employee salaries using digital currencies.

user avatarKenji Takahashi

Stablecoins Preferred for Crypto Payroll Over Bitcoin

chest

Stablecoins are becoming the preferred option for crypto payroll due to their price stability.

user avatarGustavo Mendoza

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.