"Stablecoin Market Cap Reaches Approximately 339 Trillion Won, a 0.04% Increase from the Previous Week"
Summary
- The stablecoin market cap has reached approximately 339 trillion won, marking a 0.04% increase from the previous week.
- Tether accounts for 61.96% of the total stablecoin market capitalization.
- An increase in the issuance and holdings of stablecoins can act as a factor for increased 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 10th, the market cap of stablecoins, including USDT, was estimated at approximately $242.721 billion (about 339 trillion won). This represents a 0.04% increase from the previous week.
Currently, Tether accounts for 61.96% of the total stablecoin market capitalization.
Typically, 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 cryptocurrencies.
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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