๐ $16Billion INJECTED into STABLECOIN ECONOMY in 90 DAYS; TETHER CLAIMS 69% ๐๐
Over the past 90 days, the stablecoin market has surged by over 11%, with a remarkable $16.23 billion infused into fiat-pegged crypto tokens. Notably, Tether (USDT) has dominated this growth, accounting for 69% of the total influx.
๐ Stablecoin Market Growth:
In the last three months, the stablecoin economy has experienced significant expansion. For instance, Tether's market cap increased from $101.18 billion on March 11 to $112.5 billion today, marking an $11.32 billion rise. This growth highlights USDTโs strong influence, as it absorbed the majority of the $16.23 billion entering the stablecoin market.
๐ USDE's Remarkable Climb:
Among notable stablecoins, USDE has shown impressive growth. In just 30 days, USDEโs supply surged by 46.1%, climbing from the sixth to the fourth largest dollar-pegged token by market cap. USDEโs market valuation rose from $848 million 90 days ago to $3.36 billion today, following a 334% increase over 30 days.
๐ Mixed Performances:
While Tether and USDE saw significant gains, other stablecoins experienced varied performances. Circleโs USD Coin (USDC) saw a 2.7% decline over the past month but grew from a market cap of $29.88 billion to $32.23 billion over the 90-day period. MakerDAOโs DAI increased its market valuation from $4.55 billion to $5.26 billion, despite a 3% drop in the last month.
๐ FDUSDโs Decline:
Conversely, First Digitalโs FDUSD, which ranked fourth in market cap three months ago, fell to fifth place due to a 14.2% decrease over the past 30 days, bringing its market cap to $3.27 billion.
๐ Conclusion:
The stablecoin market continues to evolve, with substantial investments and shifting positions among top players. Tetherโs dominance remains unchallenged, but new contenders like USDE are rapidly rising!
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