CandleFocus A $9.7 Billion Boom in 14 Days—Stablecoin Market Eyes Historic Peak
2024-11-17
Author: Content Editor
In the past two weeks, the stablecoin economy has seen a remarkable inflow of $9.736 billion, bringing the total value of stablecoins to $182.628 billion. Despite this growth, it is still shy of the record high of $187.874 billion. Tether's USDT dominates the market with a market valuation of $127.749 billion, accounting for 69.95% of the stablecoin market. USD Coin (USDC) follows with a market cap of $36.906 billion. The other top stablecoins, including Dai (DAI), USDE, and FDUSD, have market caps under $5 billion. The significant trading volumes of these stablecoins indicate a growing reliance on fiat-pegged assets in the crypto economy. The stability and risks associated with stablecoins are evident, as seen in the past peak and subsequent collapse of Terra's UST.
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