💳The total market cap of the top 10 fiat-pegged stablecoins has grown tremendously since 2020. Throughout the bull run of 2020 - 2021, it grew 3,121.7% from $5.0 billion at the start of 2020 to $181.7 billion in March 2022. The total fiat-pegged stablecoin market cap has since grown 35.4% from $119.1 billion to $161.2 billion as of August 2024.

The top three USD stablecoins – 🤑Tether ($USDT) at $114.4 billion, $USDC ($33.3 billion), and Dai ($DAI) at $5.3 billion, make up 94% of the total stablecoin market cap.