Stablecoin market capitalization about 426 trillion won… up 2.03% from the previous week
Minseung Kang
Summary
- Reported that the market capitalization of major stablecoins increased by 2.03% compared to the previous week.
- The total stablecoin market capitalization is about ₩426,269,800,000,000, of which Tether accounts for 58.39%.
- Stated that the increase in stablecoin market capitalization is interpreted as a bullish signal due to rising market buying pressure.
The market capitalization of major stablecoins such as Tether (USDT) and USDC has increased compared to the previous week.
On the 4th, according to the decentralized finance (DeFi) data platform DeFiLlama, the total market capitalization of all stablecoins, including USDT, was about $302,559,000,000 (about ₩426,269,800,000,000). This is an increase of 2.03% from the previous week.
Currently, Tether accounts for 58.39% of the total stablecoin market capitalization.
Generally, increases in stablecoin issuance and holdings act as factors that raise market buying pressure and are interpreted as bullish signals. Conversely, a decline can be seen as meaning 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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