The stablecoin economy has grown during the last month as the market capitalization is now only $10 billion away from reaching the $200 billion mark. While the largest stablecoin, by market valuation, tether (USDT) swelled by 3% during the last 30 days to $82 billion, terrausd (UST) has increased by 15.4% to $16.7 billion.
Stablecoin economy swells 1.65% in 30 days, approaching $200 billion mark
According to statistics from Monday, April 11, 2022, the stablecoin economy is worth $190.1 billion. In the past 24 hours, stablecoins have captured $68 billion in trade volume out of today’s total of $107 billion in global trade volume. The largest of the bunch is tether (USDT) and over the past 30 days, USDT is up 3%. Tether now holds a market valuation of $82.6 billion, representing 4.21% of the entire crypto economy.
The second-largest stablecoin usdcoin (USDC) saw a decline over the last month dropping 2.9%. BUSD also dropped during the last 30 days, losing 1.2% during the timeframe. The fourth-largest stablecoin, in terms of market capitalization, terrausd (UST) spiked by 15.4%. UST’s market capitalization on Monday is $16.7 billion or 0.85% of the entire crypto economy’s current value at $1.96 trillion.
Makerdao’s DAI is now the fifth-largest stablecoin at $8.9 billion, but over the past 30 days, its market valuation has fallen by 4.9%. Neutrino USD (USDN) has struggled lately to maintain the $1 peg, but its market cap over the past 30 days has increased by 70.2%. Along with the USDN’s skyrocketing jump, the HUSD jumped 16.8% in the past month, increasing its market valuation to $294 million.
Gemini dollar’s (GUSD) valuation saw a steep decline over the last month losing 23.9% during the timeframe. Trueusd’s (TUSD) market cap has also lost 9% during the last 30 days as well. Despite some of the losses during the last month, the entire stablecoin market valuation has expanded by 1.65% in 30 days.
With Terra’s UST at $16.7 billion and BSC’s BUSD at $17.8 billion, UST is poised to overtake BSC stabecoin. Additionally, after inflating another $10 billion more than the current economic value of stablecoins, fiat crypto assets will hit the $200 billion milestone.
