Stablecoin Market Capitalization Reaches Approximately ₩364 Trillion, Up 1.25% from Previous Week
Minseung Kang
Summary
- The total stablecoin market capitalization reportedly increased by 1.25% from the previous week to about ₩364.1466 trillion.
- It was stated that Tether (USDT) currently holds 61.99% of the total stablecoin market capitalization.
- An increase in stablecoin issuance and holdings is interpreted as a bullish signal due to the potential rise in market buying pressure.
The market capitalization of stablecoins such as Tether (USDT) and USDC has seen a slight increase compared to the previous week.
According to the decentralized finance (DeFi) dashboard DeFiLlama on the 19th, the market capitalization of stablecoins including USDT was recorded at about $261.318 billion (approximately ₩364.1466 trillion). This is an increase of 1.25% from the previous week.
Currently, Tether accounts for 61.99% of the total stablecoin market capitalization.
Typically, an increase in the issuance and holdings of stablecoins can be seen as a bullish signal, as it may lead to increased buying pressure in the market. Conversely, a decrease can be interpreted as a decline in demand for virtual 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)
