Stablecoin Market Cap Surpasses $230 Billion… Growth Continues with US Government Support
Summary
- Stablecoin market capitalization has shown continuous growth, surpassing $230 billion.
- Within the market, Tether and USD Coin have established themselves as major leading coins with 62.6% and $59 billion, respectively.
- It is expected that stablecoins will contribute to expanding the dominance of the US dollar with the support of the US government.
With the support of the Donald Trump administration, the total market capitalization of stablecoins has surpassed $230 billion for the first time.
According to DeFiLlama data cited by The Block on the 21st (local time), the current total market cap of stablecoins is $230.45 billion, with an additional $2.3 billion added in the past week. This is a 56% increase compared to the same period last year.
In terms of market cap share, Tether (USDT) leads the market with 62.6% ($144 billion). It is followed by USD Coin (USDC) with $59 billion.
Meanwhile, Trump previously expressed support for the adoption of stablecoins at the Blockworks Digital Asset Summit (DAS), stating that "dollar-based stablecoins will help expand the dominance of the US dollar."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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