Since December 8th, the stablecoin economy has grown 3.59% in 17 days as numerous stablecoin market reviews issued more fiat-linked tokens this month. On Saturday, December 25th, the stablecoin economy’s market valuation of $ 167 billion represents 6.68% of the total crypto market economy of $ 2.49 trillion.
Stablecoin spending up 3.5%
There are a large number of stablecoins pegged to the value of fiat currencies such as the US dollar today. The US dollar is the most common stablecoin peg today, but there are others that represent the euro and the Swiss franc. As of Saturday, the total value of all existing stablecoins is 167 billion US dollars, an increase of 3.59% since the last issue of our news desk Stablecoin report. The most dominant stablecoin today is tether (USDT) with a market valuation of around 77.7 billion US dollars, spread across various blockchains.
Tether’s sizeable market cap is now 46.52% of the total stablecoin economy. US Dollar coin (USDC) is the second largest stablecoin in terms of market capitalization at $ 42.4 billion. While USDT up 5.7% last month, USDC up 14% in the past 30 days. The third, fourth, and fifth largest stablecoin market valuations include BUSD, UST, and DAI, respectively. BUSD’s $ 14.8 billion market cap rose 14.6% last month and UST issues rose 36.6%.
60% of today’s trades are paired with stablecoins
The stablecoin DAI issued by Makerdao rose 2.9% last month, valued at around $ 8.9 billion. Terra Protocol’s UST stablecoin is 9.18% larger and has a valuation of around $ 9.8 billion at the time of writing. MIM, FRAX and FEI also saw remarkable increases in emissions between 15.6% and 42.4% last month. The stablecoin Origin Dollar (OUSD) rose more than 102% in the last 30 days and the SUSD rose 38.7%.
As of Saturday, the stablecoin economy had a trading volume of $ 55.4 billion out of the total reported volume of $ 92.1 billion. This means that on every trade today, 60.15% of the trades are paired with stablecoins. For example, the leading crypto asset in terms of market valuation, Bitcoin (BTC), has around 59.68% of today’s swaps with Tether (USDT). The second largest crypto asset, Ethereum (ETH) has similar key figures, since 51.45% of all ether swaps are also made with tether.
What do you think of the stablecoin market valuation, up 3.59% over the past 17 days? Let us know what you think on this matter in the comments below.
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Source: Crypto News Austria