Stablecoin Market Cap Reaches About $229.17 Billion... 0.87% Increase Compared to Previous Week
Minseung Kang
Summary
- Reported that stablecoin market capitalization increased by 0.87% compared to the previous week.
- Revealed that Tether accounts for 62.76% of the total stablecoin market capitalization.
- Reported that increased stablecoin issuance can act as a factor raising buying pressure in the market and is considered a bullish signal.
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 15th, the market capitalization of stablecoins including USDT is approximately $229.17 billion (about 333 trillion 985 billion KRW). This represents a 0.87% increase compared to the previous week.
Currently, Tether accounts for 62.76% 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, which 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.
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