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🚀🚀Stablecoin Sector Swells by $1.7 Billion in February; USDC and FDUSD Lead Supply Growth🚀🚀
As the overall value of the cryptocurrency market has grown, so too has the stablecoin niche, with a $1.7 billion boost observed since Jan. 30, 2024. Initially pegged at $136.56 billion, the stablecoin market’s worth has climbed to $138.26 billion.
Currently, tether (USDT), the frontrunner in the stablecoin arena by market cap, boasts a valuation of $96.52 billion. In the recent 30-day span, USDT’s supply has increased by 1.7%. USDC, ranking second in terms of stablecoin market capitalization, has seen its supply escalate by 9.6% over the past month.
As of Wednesday, Feb. 14, USDC’s market value stands at approximately $27.9 billion. Meanwhile, DAI experienced a 7.2% decrease in supply during the same period, dropping to a market cap of $4.84 billion.