Stablecoin Market Cap Reaches Approximately 334 Trillion Won, a 0.47% Increase from Last Week
Minseung Kang
Summary
- It was reported that the market capitalization of stablecoins increased by 0.47% compared to last week.
- It was stated that Tether accounts for 61.85% of the total stablecoin market capitalization.
- An increase in the issuance of stablecoins is perceived as an increase in buying pressure in the market and 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 19th, the market cap of stablecoins including USDT was recorded at approximately $234.483 billion (about 334 trillion won). This is a 0.47% increase from the previous week.
Currently, Tether accounts for 61.85% of the total stablecoin market cap.
Generally, an increase in the issuance and holdings of stablecoins can act as a factor for increased 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.
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