CandleFocus Stablecoins Break $200B Mark as Ethena’s Yield-Bearing USDE Supply Soars 89%
2024-12-09
Author: Content Editor
The stablecoin market has reached a milestone value of $200 billion, with the top three fiat-pegged tokens experiencing significant growth in the past month. Tether (USDT) leads the pack with 138.06 billion tokens in circulation, followed by Circle’s USDC with over $40 billion, and Ethena’s USDE, which has seen a dramatic 89% surge in value. However, not all stablecoins have performed well, with some experiencing drops in value. The growth of the stablecoin market highlights its increasing importance in the digital economy, driven by competition and innovation. Critics raise concerns about regulatory challenges and the trustworthiness of these digital tokens.
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