PANews reported on August 24 that according to News.bitcoin, the stablecoin market has continued its upward trend in the past five days, with a value increase of $1.3 billion. Tether (USDT), the largest stablecoin network by market value, has expanded its supply by 820 million during this period, and its market value has climbed from $116.88 billion to the current $117.7 billion.
Since January 1, 2024, USDT’s market cap has grown by $25.96 billion, from $91.74 billion to its current level. Another stablecoin on the rise is First Digital’s FDUSD, which saw its supply increase by 280 million in just one day. In the past week, 710 million FDUSD were added to the market.
Meanwhile, Paypal’s PYUSD, the sixth-largest stablecoin by market cap, is also growing. PYUSD is approaching the $1 billion mark for the first time, with a market cap of $981.69 million as of August 23. Over 15 million PYUSD tokens were issued in the past 24 hours, and its supply has increased by 190 million tokens in the past week. Aave’s GHO has also seen a small increase, adding $4 million in the past week.
