The stablecoin market continues to play a significant role in the crypto industry, accounting for 7.81% of the total market capitalization. Data shows USDT retains leading positions.
Market Leaders in Stablecoins
Tether (USDT) maintains its position as the largest stablecoin with a 62.54% share, corresponding to a market capitalization of $157.7 billion. The 24-hour trading volume stands at $62.2 billion, confirming its extensive use across centralized and decentralized platforms.
Mid-Sized Stablecoins Show Varied Metrics
DAI and USDe have similar market capitalizations of $5.3 billion each, but DAI's 24-hour trading volume at $18.8 billion far exceeds USDe's $89.6 million, indicating broader acceptance in decentralized finance.
Smaller Stablecoins Occupy Niche Market Share
Stablecoins like PYUSD, USDY, and USDO report market capitalizations below $1 billion. However, their trading volumes remain low, suggesting limited adoption or small use cases within the market.
The stablecoin market remains heavily reliant on USDT and USDC, which account for the bulk of capitalization and trading volume, while smaller stablecoins exhibit varied levels of usage.
