Stablecoin Economy Is $10 Billion Away From Reaching a $200 Billion Market Cap

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Stablecoin Economy Is $10 Billion Away From Reaching a $200 Billion Market Cap – The stablecoin economy has risen in recent months, with the market value being just $10 billion off of $200 billion. Tether (USDT), the largest stablecoin by market capitalization, has climbed by 3% to $82 billion in the previous 30 days, while terrausd (UST) has increased by 15.4 percent to $16.7 billion.

The stablecoin economy is worth $190.1 billion, according to statistics. Stablecoins has captured $68 billion in trade volume in the last 24 hours, out of a total of $107 billion in today’s global trading volume.

Tether is the most valuable of the bunch, with USDT up 3% in the last 30 days. Tether now has a market cap of $82.6 billion, accounting for 4.21 percent of the total crypto economy.

Also Read: Tanzania Officials Want Global Clarity on CBDCs and Crypto Assets

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The second-largest stablecoin, usdcoin (USDC), has dropped 2.9 percent last month. BUSD has likewise fallen in the last 30 days, losing 1.2 percent in that timeframe.

Terrausd (UST), the fourth-largest stablecoin by market capitalization, increased by 15.4 percent. On Monday, the market capitalization of UST was $16.7 billion, accounting for 0.85% of the total crypto economy’s current worth of $1.96 trillion.

Makerdao’s DAI is currently the sixth most valuable stablecoin, valued at $8.9 billion, but its market cap has dropped by 4.9 percent in the last 30 days.

Although Neutrino USD (USDN) has had difficulty maintaining its $1 peg in recent months, its market cap has surged by 70.2 percent in the previous 30 days. Aside from the sharp increase in USDN, HUSD’s market value increased by 16.8% within the last month.

The value of the Gemini dollar (GUSD) has dropped significantly over the last month, dropping 23.9 percent. Trueusd’s (TUSD) market capitalization has likewise dropped by 9% in the last 30 days. Despite some losses during the last month, the overall market value of stablecoins has increased by 1.65% in the last 30 days.

Also Read: Crypto Exchanges Binance and Whitebit Offer Help for Ukrainian Refugees

With Terra’s UST valued at $16.7 billion and BSC’s BUSD valued at $17.8 billion, UST is on the verge of overtaking BSC’s stabecoin. Furthermore, the fiat-pegged crypto assets will surpass the $200 billion mark after swelling another $10 billion more than today’s stablecoin economy value.

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