The stablecoin market has reached a market capitalization of $229.98 billion, demonstrating increasing user demand. Stablecoins are valued for their stability during volatile market conditions and are commonly used for trading and decentralized finance (DeFi) applications.

Tether (USDT) remains the dominant stablecoin with a 63.57% market share, making it the largest stablecoin with a market capitalization of $142.4 billion. USDT is highly liquid with a daily trading volume of $115.3 billion, making it a crucial element in cryptocurrency exchanges and cross-border trading.

USD Coin (USDC) is the second-largest stablecoin with a market capitalization of $56.6 billion and $11.7 billion in daily trading activity. It competes with USDT as one of its primary rivals in the stablecoin market.

Other significant stablecoins include USDe, with a market capitalization of $5.4 billion and $95.8 million daily trade volume, and DAI, with a market capitalization of $5.3 billion and $123.2 million daily trading volume through decentralized asset-backed operations.

New stablecoins are regularly entering the market, with FDUSD having a market capitalization of $3.5 billion and $123.2 million in daily trading. Additional stablecoins like USD0, PYUSD, FRAX, and TUSD contribute to the growing diversification of the stablecoin ecosystem.

Stablecoins continue to play a critical role in digital asset transactions, and their adoption and regulatory landscape greatly impact the broader cryptocurrency market.



Other News from Today