Summary
- It was reported that the market capitalization of stablecoins increased by 0.70% compared to the previous week.
- The proportion of Tether is 61.56%, indicating it as a major stablecoin in the market.
- The increase in the issuance and holdings of stablecoins can act as a bullish signal in the market.
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 5th, the market capitalization of stablecoins including USDT was estimated at approximately $235.09 billion (about 343.584 trillion won). This is an increase of 0.70% compared to the previous week.
Currently, Tether accounts for 61.56% of the total stablecoin market capitalization.
Typically, an increase in the issuance and holdings of stablecoins can act as a bullish signal in the market as it may indicate increased buying pressure. 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.
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