Stablecoins surpass $300 billion market cap for the first time… about 47% growth year-to-date

The market capitalization of the stablecoin market has exceeded $300 billion for the first time.

On the 3rd (local time), Cointelegraph, citing DeFiLlama data, reported that the stablecoin market capitalization surpassed $300 billion that day. This is a figure that has grown 46.8% year-to-date.

The outlet said this breakthrough is a record that surpasses last year's growth trend, and that the issuance of new stablecoins this year and intensified competition within the market served as the background.

In this regard, Lorenzo R, co-founder of the Tether-based project USDT0, said, "This milestone reminds us that the infrastructure we are building today must scale to the trillions," and "Market flows are moving in that direction."