Stablecoin market capitalization approximately KRW 409 trillion… up 1.37% from last week
Minseung Kang
Summary
- The stablecoin market capitalization was approximately KRW 409,402,800,000,000, an increase of 1.37% from the previous week.
- It said that Tether (USDT) accounts for 58.79% of the total stablecoin market capitalization.
- It said that typically stablecoin issuance and increases in holdings are interpreted as factors that raise buying pressure in the market.
The market capitalization of stablecoins such as Tether (USDT) and USDC has increased compared to the previous week.
On the 20th, according to the decentralized finance (DeFi) dashboard DeFiLlama, the market capitalization of stablecoins including USDT was approximately $292,623,000,000 (about KRW 409,402,800,000,000). This is an increase of 1.37% from the previous week.
Currently, Tether accounts for 58.79% of the total stablecoin market capitalization.
Typically, increases in stablecoin issuance and holdings can act as factors that raise buying pressure in the market and are considered bullish signals. Conversely, the opposite can be interpreted as meaning 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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