Stablecoin Market Cap Increases by 1.69% to Approximately 333 Trillion Won Compared to Last Week
Minseung Kang
Summary
- It was reported that the market capitalization of stablecoins increased by 1.69% compared to the previous week.
- It was stated that Tether accounts for 61.62% of the total stablecoin market capitalization.
- An increase in the issuance and holding of stablecoins can be interpreted as market buying pressure.
The market capitalization of stablecoins such as Tether (USDT) and USD Coin (USDC) has increased compared to last week.
According to the decentralized finance (DeFi) dashboard DeFiLlama on the 26th, the market capitalization of stablecoins, including USDT, was approximately $238.289 billion (about 342.8502 trillion won). This is a 0.67% decrease compared to the previous week.
Currently, Tether accounts for 61.62% of the total stablecoin market capitalization.
Typically, an increase in the issuance and holding of stablecoins can act as a bullish signal as it may lead to increased buying pressure in the market. 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.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
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