"Stablecoin Market Cap Reaches Approximately 336 Trillion KRW, Up 0.95% from Last Week"
Minseung Kang
Summary
- It was reported that the market cap of stablecoins increased by 0.95% from the previous week, reaching approximately 336 trillion 667.3 billion KRW.
- It was stated that Tether accounts for 62.3% of the total stablecoin market cap.
- It was reported that an increase in the issuance and holding of stablecoins can act as a factor for 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 24th, the market cap of stablecoins including USDT is estimated at approximately $246.19 billion (about 336 trillion 667.3 billion KRW). This is an increase of 0.95% from the previous week.
Currently, Tether accounts for 62.3% of the total stablecoin market cap.
Typically, an increase in the issuance and holding of stablecoins can act as a factor for rising 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.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
