Stablecoin Market Cap Reaches Approximately $227.359 Billion... 1.03% Increase Compared to Previous Week
Minseung Kang
Summary
- Reported that stablecoin market capitalization increased by 1.03% compared to the previous week.
- Revealed that Tether has the highest proportion at 62.98% among all stablecoins.
- Reported that increased stablecoin issuance is interpreted as a factor raising market buying pressure.
The market capitalization of stablecoins such as Tether (USDT) and USDC has shown a slight increase compared to the previous week.
According to the decentralized finance (DeFi) dashboard DeFiLlama on the 8th, the market capitalization of stablecoins including USDT is approximately $227.359 billion (about 329.625 trillion KRW). This represents a 1.03% increase compared to the previous week.
Currently, Tether accounts for 62.98% 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 digital assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
