Stablecoin Market Capitalization Approximately ₩382 Trillion...Down 0.06% from Previous Week
Summary
- The total market capitalization of stablecoins has decreased by 0.06% from the previous week to about ₩382.8372 trillion.
- According to DeFiLlama, Tether (USDT) comprises 60.33% of the total stablecoin market capitalization.
- A decrease in stablecoin issuance is interpreted as a sign of reduced demand for virtual assets.
The market capitalization of stablecoins such as Tether (USDT) and USDC showed a slight decrease compared to the previous week.
According to the decentralized finance (DeFi) dashboard DeFiLlama on the 23rd, the total market capitalization of stablecoins was calculated to be about $276.567 billion (approximately ₩382.8372 trillion). This figure represents a 0.06% decrease from the previous week.
Currently, Tether accounts for 60.33% of the entire stablecoin market capitalization.
Generally, an increase in stablecoin issuance and holdings can act as a factor for increased buying pressure in the market and is regarded as a bullish signal. Conversely, a decrease may be interpreted as a sign of reduced demand for virtual assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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