CandleFocus

2024 Fiat-Pegged Economy Swells—Stablecoins Reach $200B, Tether’s Market Soars 50%, New Players Emerge

Author: Content Editor
The stablecoin market has expanded significantly, surpassing $200 billion in total valuation, a $73 billion increase from the start of the year. Tether (USDT) remains the leading stablecoin with a market valuation of $137.67 billion, followed by USD Coin (USDC) with a valuation of $43.82 billion. DAI has dropped to fourth place due to Makerdao's rebranding to Sky and the launch of USDS. Ethena's USDE has emerged as the third-largest stablecoin with a market cap of $5.867 billion. The rapid growth of stablecoins reflects the increasing integration of digital assets into the global financial system. The reshuffling among stablecoin rankings highlights the dynamic and evolving nature of the market, driven by innovation.

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