Stablecoin market capitalization 398 trillion won… up 1.13% from the previous week
Minseung Kang
Summary
- It reported that the market capitalization of major stablecoins increased by 1.13% compared to the previous week.
- Tether accounts for 58.89% of the total stablecoin market capitalization.
- An increase in stablecoin issuance and holdings is interpreted as a factor that increases market buying pressure.
Major stablecoins such as Tether (USDT) and USDC saw their market capitalization slightly increase from the previous week.
On the 6th, according to the decentralized finance (DeFi) data platform DeFiLlama, the total market capitalization of stablecoins including USDT was about $286.778 billion (about 398.3 trillion won). This is an increase of 1.13% from the previous week.
Tether currently accounts for 58.89% of the total stablecoin market capitalization. Typically, increases in stablecoin issuance and holdings are interpreted as a factor that increases market buying pressure. Conversely, a downward trend may indicate a contraction in demand for crypto assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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