Stablecoin Market Capitalization Reaches Approximately ₩385 Trillion, Up 2.18% from Previous Week
Minseung Kang
Summary
- The market capitalization of stablecoins (Tether (USDT), USDC) increased by 2.18% compared to the previous week.
- The total stablecoin market capitalization was recorded at approximately ₩385.897 trillion, with Tether's share accounting for 60.13%.
- In general, an increase in stablecoin issuance and holdings is interpreted as a driver of market buying pressure and a bullish signal.
The market capitalization of stablecoins, such as Tether (USDT) and USDC, has increased compared to the previous week.
According to the decentralized finance (DeFi) dashboard DeFiLlama on the 17th, the market capitalization of stablecoins including USDT was recorded at about $276.913 billion (approximately ₩385.897 trillion). This figure is up 2.18% from the previous week.
Currently, Tether accounts for 60.13% of the total stablecoin market capitalization.
Typically, an increase in the issuance and holdings of stablecoins can act as a driver of buying pressure in the market, which is interpreted as a bullish signal. Conversely, a decrease may indicate 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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