CandleFocus Stablecoin Market Grew by $555 Million in October – Which Tokens Are Leading the Pack?
2024-11-02
Author: Content Editor
The stablecoin economy has reached a value of $172.892 billion, with an increase of $555 million in October. Tether (USDT) remains the leading stablecoin with a market cap of $120.522 billion, representing 69.71% of the total value. USD Coin (USDC) holds the second position with a market cap of $34.629 billion, experiencing a slight dip from the previous month. DAI saw a 2.9% drop in market cap, while Sky's USDS rose to $1.082 billion. Stablecoins account for 42.88% of all crypto trades, indicating sustained interest in fiat-pegged assets. The market caps of various stablecoins highlight the evolving nature of this sector.
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