Stablecoin Market Cap Reaches Approximately ₩382 Trillion... Up 1.48% from Previous Week
Summary
- The market capitalization of stablecoins was tallied at about $265 billion (₩382.75 trillion), an increase of 1.48% from the previous week.
- It was reported that Tether accounts for 61.85% of the total stablecoin market capitalization.
- An increase in stablecoin issuance and holdings is seen as a factor for higher buying pressure in the market and is considered a bullish signal.
It has been observed that the market capitalization of stablecoins, such as Tether (USDT) and USD Coin (USDC), has slightly increased compared to the previous week.
According to the decentralized finance (DeFi) dashboard DeFiLlama on the 26th, the market cap of stablecoins including USDT was recorded at around $265 billion (approximately ₩382.75 trillion). This figure represents an increase of 1.48% from the previous week.
Currently, Tether accounts for 61.85% of the total stablecoin market cap.
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. 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.
