Stablecoin Market Witnesses $2.5 Billion Increase in 10 Days
Date: 2024-02-25 Author: Dima Zakharov Categories: BLOCKCHAIN
Stablecoin Market Growth
The cryptocurrency sector, particularly stablecoins tied to fiat currencies, is currently undergoing remarkable expansion. According to data from coingecko.com, the market cap for stablecoins has surged to $140.82 billion, indicating a $2.56 billion increase since February 14, 2024.
Tether (USDT) Dominance
Tether (USDT) has witnessed a surge in its market capitalization from $96.52 billion to the current $97.89 billion. Since January 24, 2024, the total supply of USDT has increased by 2.5%.
Rising Demand for USD Coin (USDC)
The market capitalization of USD Coin (USDC) has risen from $27.9 billion to $28.14 billion over the past ten days. Over the last 30 days, starting from January 24, the supply of USDC has increased by 8.9%.
Growth of DAI Makerdao
DAI Makerdao has also demonstrated growth, increasing from $4.84 billion to $4.93 billion in the past ten days. Since January 24, FDUSD supply has increased by 25.2%, with the market capitalization rising from $2.83 billion on February 14 to the current $3.31 billion.
Market Fluctuations
While Trueusd (TUSD) experienced a decrease in market capitalization from $1.27 billion to $1.25 billion on February 24, USDD and Frax Dollar (FRAX) on Tron remained relatively stable. However, ethena usde (USDE) witnessed a substantial 224.9% increase in supply since January 24.
Conclusion
The stablecoin market is dynamic, with significant fluctuations in market capitalization observed across various stablecoin projects.
