Stablecoin Market Cap at Approximately $229.3 Trillion KRW... 0.62% Decrease Compared to Previous Week
Minseung Kang
Summary
- Reported that the market capitalization of stablecoins decreased by 0.62% compared to the previous week.
- Stated that Tether (USDT) accounts for 63.33% of the total stablecoin market capitalization.
- Reported that a decrease in stablecoin issuance typically indicates a decrease in demand for cryptocurrencies.
The market capitalization of stablecoins such as Tether (USDT) and USDC has slightly decreased compared to the previous week.
According to the decentralized finance (DeFi) dashboard DeFiLlama on the 1st, the market capitalization of stablecoins including USDT was approximately $225.152 billion (about 329.3973 trillion KRW). This represents a 0.62% decrease compared to the previous week.
Currently, Tether accounts for 63.33% of the total stablecoin market capitalization.
Typically, an increase in stablecoin issuance and holdings can act as a factor raising buying pressure in the market and is considered a bullish signal. Conversely, a decrease can be interpreted as reduced demand for cryptocurrencies.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
