Stablecoin market capitalization, about 441 trillion won… down 0.58% from the previous week
Summary
- It reported that the market capitalization of major stablecoins decreased by 0.58% compared to the previous week.
- It stated that Tether accounts for 59.69% of the total stablecoin market capitalization.
- The decrease in market capitalization was said to indicate that demand for crypto assets has declined.
The market capitalization of major stablecoins such as Tether (USDT) and USDC has slightly decreased compared to the previous week.
On the 1st, according to the decentralized finance (DeFi) dashboard DeFiLlama, the total market capitalization of stablecoins including USDT was approximately $307.211 billion (about 441 trillion won). This is a decrease of $1.807 billion (0.58%) from the previous week.
Currently, Tether accounts for 59.69% of the total stablecoin market capitalization.
Typically, increases in stablecoin issuance and holdings can act as factors that raise buying pressure in the market and are regarded as bullish signals. The opposite case can be interpreted as meaning 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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