Stablecoin market capitalization, about 394.5 trillion won… up 2.63% week-on-week
Summary
- Reported that the market capitalization of major stablecoins rose 2.63% week-on-week.
- Said that Tether accounts for 59.12% of the total stablecoin market capitalization.
- Stated that increases in stablecoin issuance and holdings generally act as factors that increase buying pressure in the market.
The market capitalization of major stablecoins such as Tether (USDT) and USDC has slightly increased compared with the previous week.
On the 30th, according to decentralized finance (DeFi) dashboard DeFiLlama, the market capitalization of stablecoins including USDT was approximately 283.492 billion dollars (about 394.5358 trillion won). This represents a 2.63% increase from the previous week. Currently, Tether accounts for 59.12% of the total stablecoin market capitalization.
Generally, increases in stablecoin issuance and holdings can act as factors that increase buying pressure in the market and are regarded as bullish signals. In the opposite case, it can be interpreted as meaning that demand for virtual assets has decreased.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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