The stablecoin economy has risen in the last month, with the market value being just $10 billion shy of $200 billion. While tether (USDT), the largest stablecoin by market cap, has climbed by 3% in the previous 30 days to $82 billion, terrausd (UST) has increased by 15.4 percent to $16.7 billion.
The Stablecoin Economy Expands by 1.65% in 30 Days, Approaching the $200 Billion Mark
The stablecoin economy is valued $190.1 billion as of Monday, April 11, 2022, according to data. Stablecoins have captured $68 billion in trade volume in the last 24 hours, out of a total of $107 billion in today’s global trading volume. The largest of the bunch is tether (USDT), which has climbed by 3% in the last 30 days. Tether now has a market capitalization of $82.6 billion, accounting for 4.21 percent of the whole crypto ecosystem.
The second-largest stablecoin, usdcoin (USDC), has dropped 2.9 percent in the last month. BUSD also fell in the last 30 days, losing 1.2 percent during that time period. 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, or 0.85 percent of the total crypto economy’s current worth of $1.96 trillion.
Makerdao’s DAI is the fifth largest stablecoin today, valued at $8.9 billion, although its market cap has dropped by 4.9 percent in the last 30 days. Neutrino USD (USDN) has recently struggled to maintain its $1 peg, although its market valuation has surged by 70.2 percent in the last 30 days. Aside from the sharp increase in USDN, HUSD increased by 16.8 percent in the last month, bringing its market capitalization to $294 million.
The value of the Gemini dollar (GUSD) has dropped dramatically in the last month, falling by 23.9 percent. Trueusd’s (TUSD) market cap has likewise fallen by 9% in the last 30 days. Despite some losses over the last month, the overall stablecoin market valuation has increased by 1.65 percent in 30 days.
With Terra’s UST at $16.7 billion and BSC’s BUSD at $17.8 billion, UST is closing in on the BSC stabecoin. Furthermore, after rising another $10 billion beyond today’s stablecoin economic value, the fiat-pegged crypto assets will surpass the $200 billion mark.