Summary
- It was reported that the market capitalization of stablecoins surpassed $200 billion for the first time ever.
- Stablecoins increased by $30 billion following the victory of U.S. President-elect Donald Trump.
- Bitwise projected that the stablecoin market cap will increase to $400 billion by next year.
On the 11th (local time), cryptocurrency specialist media CoinDesk, citing CCData, reported that "the market capitalization of stablecoins has surpassed $200 billion for the first time ever."
Previously, the stablecoin market cap increased by $30 billion following the victory of U.S. President-elect Donald Trump last month, with notable growth in Tether (USDT) and USDC. According to the media, developing countries and tokenized products drove this upward trend.
Furthermore, Bitwise projected that the stablecoin market cap will increase to $400 billion by next year.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
