Since December 8, the stablecoin economy has grown 3.59% in 17 days as numerous stablecoin market valuations have issued more fiat-pegged tokens this month. On Saturday, December 25, the stablecoin economy’s $167 billion market valuation represents 6.68% of the entire $2.49 trillion crypto market economy.
Stablecoin issue jumps 3.5%
Today there are a large number of stablecoins that are pegged to the value of fiat currencies like the US dollar. The US dollar is the most common stable peg today, but there are others that represent the euro and the Swiss franc. On Saturday, the total value of all existing stablecoins is $ 167 billion, up 3.59% since our press office’s last stablecoins report. The most dominant stablecoin today is tether (USDT) with a market valuation of around $ 77.7 billion spread across various blockchains.
Tether’s sizable market capitalization is 46.52% of the entire stablecoin economy today. Usd coin (USDC) is the second largest stablecoin in terms of market capitalization with $42.4 billion. While USDT increased 5.7% during the last month, USDC climbed 14% during the last 30 days. The third, fourth and fifth largest stablecoin market valuations belong to BUSD, UST, and DAI respectively. BUSD’s $14.8 billion market cap increased by 14.6% during the last month and UST’s issuance jumped by 36.6%.
60% of transactions today are associated with Stablecoins
The DAI stablecoin issued by Makerdao rose 2.9% last month with a valuation of around $ 8.9 billion. Terra Protocol’s UST stablecoin is 9.18% larger with a valuation of around $ 9.8 billion at the time of writing. MIM, FRAX and FEI also saw notable increases in emissions, ranging from 15.6% to 42.4% over the past month. The original stable dollar (OUSD) has climbed over 102% in the past 30 days and the SUSD has jumped 38.7%.
On Saturday, the stablecoin economy commands $55.4 billion in trade volume out of the aggregate $92.1 billion reported volume. This means with every trade today, 60.15% of the trades are paired with stablecoins. For instance, the leading crypto asset in terms of market valuation, bitcoin (BTC), has seen around 59.68% of today’s swaps with tether (USDT). The second leading crypto asset, ethereum (ETH), has similar metrics as 51.45% of all ether swaps are with tether as well.
