Stablecoin Market Capitalization Reaches Approximately ₩376 Trillion…Up 1.15% Compared to Last Week
Summary
- It was reported that the market capitalization of stablecoins reached approximately ₩376,142,100,000,000, an increase of 1.15% compared to last week.
- It was stated that Tether accounts for 61.06% of the total stablecoin market capitalization.
- The increase in stablecoin issuance and holdings is typically cited as a factor that can raise buying pressure in the market.
The market capitalization of stablecoins, including 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 9th, the market capitalization of stablecoins, including USDT, was recorded at about $270,314,000,000 (approximately ₩376,142,100,000,000). This marks an increase of 1.15% from the previous week.
Currently, Tether accounts for 61.06% of the total stablecoin market capitalization.
Typically, an increase in stablecoin issuance and holdings can act as a factor that raises buying pressure in the market, and is therefore considered a bullish signal. Conversely, a decrease can 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.
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