"Stablecoin Market Cap Reaches Approximately 341 Trillion Won, Up 0.38% from Last Week"
Minseung Kang
Summary
- It was reported that the market cap of stablecoins increased by 0.38% from the previous week, reaching approximately 341 trillion 553.9 billion won.
- Tether (USDT) currently accounts for 62.29% of the total stablecoin market cap.
- An increase in the issuance and holdings of stablecoins is considered a bullish signal as it can lead to rising buying pressure 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 18th, the market cap of stablecoins, including USDT, was recorded at approximately $243.88 billion (about 341 trillion 553.9 billion won). This is a 0.67% decrease from the previous week.
Currently, Tether accounts for 62.29% of the total stablecoin market cap.
Generally, an increase in the issuance and holdings of stablecoins can act as a factor for rising buying pressure in the market, 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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