Summary
- It was reported that the market cap of stablecoins increased by 0.86% compared to the previous week.
- It was stated that currently, Tether (USDT) accounts for 62.36% of the total stablecoin market.
- An increase in the issuance of stablecoins can act as a factor for rising buying pressure in the market.
The market capitalization of stablecoins such as Tether (USDT) and USD Coin (USDC) has shown a slight increase compared to the previous week.
According to the decentralized finance (DeFi) dashboard DeFiLlama on the 22nd, the market cap of stablecoins including USDT was recorded at approximately 231.156 billion USD (about 338.7591 trillion KRW). This is an increase of 0.86% compared to the previous week.
Currently, Tether accounts for 62.36% of the total stablecoin market cap.
Generally, an increase in the issuance and holdings of stablecoins can act as a factor for rising buying pressure in the market, which is considered a bullish signal. Conversely, it can be interpreted as a decrease in demand for virtual assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
