Stablecoin Market Capitalization Reaches Approximately ₩345.5 Trillion, Up 0.67% from Previous Week
Minseung Kang
Summary
- The market capitalization of stablecoins was reported to be approximately ₩345.5258 trillion, an increase of 0.67% from the previous week.
- It was noted that Tether (USDT) holds a 62.51% share of the total stablecoin market capitalization.
- It was explained that an increase in the issuance and holdings of stablecoins can act as a factor increasing 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 28th, the market capitalization of stablecoins, including USDT, was recorded at approximately $253.226 billion (about ₩345.5258 trillion). This figure represents a 0.67% increase from the previous week.
Currently, Tether accounts for 62.51% of the total stablecoin market capitalization.
Generally, an increase in the issuance and holdings of stablecoins can act as an upward pressure on the market, signaling bullish sentiment. Conversely, a decrease can be interpreted as reduced demand for virtual assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Exclusive] KakaoBank meets with global custody heavyweight…possible stablecoin partnership](https://media.bloomingbit.io/PROD/news/a954cd68-58b5-4033-9c8b-39f2c3803242.webp?w=250)
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