Summary
- The stablecoin market capitalization is approximately KRW 419 trillion, up 1.52% from the previous week.
- Said that Tether accounts for 58.63% of the total market capitalization.
- Stated that increases in stablecoin issuance and holdings are interpreted as a bullish signal that raises buying pressure in the market.
Tether (USDT), USDC and other stablecoins saw their market capitalization increase compared with the previous week.
On the 27th, according to the decentralized finance (DeFi) dashboard DeFiLlama, the market capitalization of stablecoins, including USDT, was approximately $297.064 billion (approximately KRW 418.8602 trillion). This represents a 1.52% increase from the previous week.
Currently, Tether accounts for 58.63% of the total stablecoin market capitalization.
Generally, increases in stablecoin issuance and holdings can act as a factor that raises market buying pressure and are regarded as a bullish signal. The opposite case can be interpreted to mean that demand for crypto assets has decreased.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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