#Stablecoins Shine in Market Downturn: #USDT。 , #USDC Lead the Charge

Despite a general market slump, stablecoins defied the odds with a 4.76% surge in April, reaching a $158 billion market cap. This unprecedented rise highlights their potential as safe havens during volatility.

Tether's $USDT emerged as the champion, boasting a 70% market share and a new high of $110 billion. Notably, Hong Kong-based $FDUSD also saw a meteoric rise of 77.6% to $3.88 billion.

While $USDC experienced a slowdown, other stablecoins like Ethena's USDe enjoyed significant gains. Interestingly, gold-backed stablecoins like Tether Gold (XAUT ) and Pax Gold ($PAXG ) also rose over 4%, potentially influenced by rising gold prices.

Looking ahead, Stripe's announcement of resuming crypto payments with stablecoins this summer suggests further growth for the sector. Stablecoin adoption by foreign markets could be another catalyst, solidifying their position in the evolving crypto landscape.