"Stablecoin Market Cap, Approximately 340 Trillion Won… Increased by 1.84% from the Previous Week"
Minseung Kang
Summary
- It has been revealed that the market capitalization of stablecoins increased by 1.84% compared to the previous week.
- Tether accounts for 61.7% of the total stablecoin market capitalization.
- An increase in stablecoin issuance is considered a bullish signal due to increased buying pressure in the market.
The market capitalization of stablecoins such as Tether (USDT) and USD Coin (USDC) has slightly decreased compared to the previous week.
According to the decentralized finance (DeFi) dashboard DeFiLlama on the 3rd, the market capitalization of stablecoins including USDT was approximately $242.603 billion (about 340.2553 trillion won). This is an increase of 1.84% from the previous week.
Currently, Tether accounts for 61.7% of the total stablecoin market capitalization.
Generally, an increase in the issuance and holdings of stablecoins can act as a bullish signal due 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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