Stablecoin Market Capitalization Reaches Approximately ₩355 Trillion, Up 1.06% From Last Week
Summary
- The market capitalization of stablecoins was reported to total about ₩355,768,400,000,000.
- This figure was said to represent a 1.06% increase from the previous week.
- It was explained that increases in the issuance and holdings of stablecoins are generally interpreted as factors contributing to increased buying pressure in the market.
The market capitalization of stablecoins such as Tether (USDT) and USD Coin (USDC) showed a slight increase compared to the previous week.
According to DeFiLlama, a decentralized finance (DeFi) dashboard, on the 12th, the total market capitalization of stablecoins, including USDT, was approximately $257,751,000,000 (about ₩355,768,400,000,000). This figure represents a 1.06% increase from the previous week.
Currently, Tether accounts for 62.13% of the total stablecoin market capitalization.
Typically, an increase in the issuance and holdings of stablecoins can act as a factor raising buying pressure in the market and is regarded as a bullish signal. On the contrary, a decrease could be interpreted as reduced demand for digital assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)
