Stablecoins metrics group:
1️⃣Aggregate Supplies
This metric shows the combined supply of the four leading stablecoins: USDT, USDC, BUSD, and DAI.
These stablecoins are distributed across multiple blockchains, including Ethereum.
Current situation:
The total market capitalization of stablecoins continued to grow in April, increasing by more than $4.28 billion over the past 32 days (including the first week of May).
The majority of this growth was driven by USDT, which saw its market capitalization increase by $3.95 billion from April 8 to May 10.
The growth in stablecoin capitalization has been ongoing since September 30, 2023.
Rating: 8/10 in favor of buyers.
The Stablecoins metrics group highlights a continuous increase in the total market capitalization of stablecoins, with a significant contribution from USDT.
From April 8 to May 10, USDT's market cap alone increased by $3.95 billion.
The growth in stablecoin capitalization started on September 30, 2023, and has been rising steadily since then.
Overall, the increasing market capitalization of stablecoins indicates growing demand and adoption, suggesting a favorable outlook for the market.
This trend supports the broader cryptocurrency market by providing liquidity and stability, which can be beneficial for further growth and investment.