[Surge of US$9.7 billion in 14 days - Stablecoin market reaches historical peak]
The importance of stablecoins in the crypto market is growing day by day, and the market size has grown significantly recently. In the past two weeks, the fiat-pegged stablecoin market has grown by 5.63%, with an infusion of approximately $9.736 billion. As of November 16, the total market capitalization of stablecoins reached $182.628 billion, just $5.246 billion shy of the all-time high of $187.874 billion in April 2022.
Stablecoins account for 5.96% of the total crypto market value, according to Devillama data. Tether (USDT) ranks first with a market value of US$127.749 billion, accounting for 69.95% of the market; USD Coin (USDC) ranks second with a market value of US$36.906 billion, accounting for 20.21%. In the past month, the fastest-growing stablecoins were DAI (market cap of $4.649 billion), USDE ($3.167 billion) and FDUSD ($2.287 billion). In terms of global trading volume, USDT, USDC, and FDUSD performed best.
The stablecoin market shows clear stratification, with USDT and USDC leading the way, while smaller stablecoins position themselves in niche markets. For example, FDUSD, although its market capitalization is low, has outstanding trading volume due to the support of Binance, highlighting the market's reliance on fiat currency-linked assets.
The stablecoin market’s all-time highs coincided with the rise of Terra’s UST, but the latter’s subsequent collapse reminded the market of the need to be wary of risks. As the market grows steadily, past experience may promote future stability and prevent similar incidents from happening again.
