• 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

Jordi Visser Highlights New Inflation Challenges for the Federal Reserve

chest

Macro investor Jordi Visser raises concerns about inflation's return as the Federal Reserve faces economic challenges, emphasizing the relevance of Bitcoin in this context.

user avatarDiego Alvarez

Benchmark Initiates Coverage of Cantor Equity Partners II with Buy Rating

chest

Benchmark analysts have initiated coverage of Cantor Equity Partners II, assigning a Buy rating to the firm expected to merge with Securitize, a tokenization specialist.

user avatarKenji Takahashi

Walmart Recession Signal Indicates Economic Pressure

chest

Market expert Jim Paulsen raises concerns about the economic outlook, highlighting the performance gap between Walmart and luxury retailers, indicating financial pressure on lower and middle-income households.

user avatarMaria Fernandez

Market Optimism Following Robinhood's NEAR Listing

chest

The market response to the NEAR listing announcement indicated measured optimism with increased trading volumes.

user avatarGustavo Mendoza

Robinhood Expands Crypto Offerings with NEAR Protocol Listing

chest

Robinhood has added NEAR Protocol for spot trading, expanding its cryptocurrency offerings to over 23 million users.

user avatarRajesh Kumar

Robinhood's NEAR Protocol Listing: A Strategic Move in Crypto Expansion

chest

Robinhood's decision to list NEAR Protocol represents a strategic expansion of its cryptocurrency services, aiming to attract new users and increase trading volumes.

user avatarMiguel Rodriguez

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.