Stablecoin market capitalization about ₩445 trillion…down 0.63% from the previous week
Summary
- According to DeFiLlama, the stablecoin market capitalization was about $305,477,000,000, down 0.63% from the previous week.
- It reported that Tether (USDT) accounts for 60.09% of the total stablecoin market capitalization.
- It stated that the decline in stablecoins is assessed as a reduction in investors' demand for risky assets.
The market capitalizations of major stablecoins such as Tether (USDT) and USDC have slightly decreased compared to the previous week.
On the 8th, according to the decentralized finance (DeFi) dashboard DeFiLlama, the total market capitalization of all stablecoins, including USDT, was about $305,477,000,000 (about ₩445,470,000,000,000). This is a decrease of $1,925,000,000 (0.63%) from the previous week.
Tether currently accounts for 60.09% of the total stablecoin market capitalization.
Typically, an increase in stablecoin issuance and holdings can act as a factor that raises buying pressure in the market and is interpreted as a bullish signal. Conversely, a downward trend is assessed as a reduction in investors' demand for risky assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
