Stablecoin market capitalization about 428 trillion won…0.67% increase from the previous week
Summary
- It reported that the market capitalization of major stablecoins increased by 0.67% compared to the previous week.
- It said Tether's share was 58.87% of the total stablecoin market capitalization, slightly up.
- An increase in stablecoin holdings is interpreted as rising market buying pressure and a bullish signal.
The market capitalization of major stablecoins such as Tether (USDT) and USDC has shown a slight increase compared to the previous week.
On the 11th, according to decentralized finance (DeFi) data platform DeFiLlama, the total market capitalization of all stablecoins including USDT was about $304,569,000,000 (about 428 trillion won). This is a 0.67% increase from the previous week.
Currently, Tether's share of the total stablecoin market capitalization is 58.87%, slightly up from the previous week.
Typically, an increase in stablecoin issuance and holdings acts as a factor increasing market buying pressure and is interpreted as a bullish signal. Conversely, a declining trend can be seen as meaning a reduced 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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