Stablecoin market capitalization about 437 trillion won…up 0.88% from the previous week
Minseung Kang
Summary
- It reported that the market capitalization of stablecoins was about 437 trillion won, up 0.88% from the previous week.
- It stated that Tether accounts for 59.14% of the total stablecoin market capitalization.
- It said that, generally, increases in stablecoin issuance and holdings are considered bullish signals as factors that can increase buying pressure in the market.
Tether (USDT), USDC and other stablecoins' market capitalization was slightly higher compared with the previous week.
On the 18th, according to the DeFi dashboard DeFiLlama, the market capitalization of stablecoins including USDT was approximately $307.266 billion (about 437 trillion won). This is an increase of 0.88% compared with the previous week.
Currently, Tether accounts for 59.14% of the total stablecoin market capitalization.
Generally, increases in stablecoin issuance and holdings can act as factors that increase buying pressure in the market and are considered bullish signals. The opposite case can be interpreted to mean that demand for crypto assets has declined.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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