Stablecoins are playing an irreplaceable role in the cryptocurrency market. They not only help trade digital assets on centralized and decentralized exchanges, but also support instant cross-border transfers. This brings stability and convenience in transactions, becoming an important foundation for the crypto market.
Demand and Trends of Stablecoins
Last we checked, on September 26, the total stablecoin market capitalization was ~$161.19 billion. Today, it is ~$161.07 billion, a slight decrease of just about $0.12 billion over the past two weeks.
But don't worry! đš This is not a worrying sign, because in the past month, the stablecoin market capitalization has increased by $1.86 billion, and the total value is still close to the all-time high of $162.95 billion. This shows that the demand for stablecoins is still very stable and nothing too unusual.
Tether and Notable Developments
On October 7, Tether, the company behind USDT, celebrated its 10th anniversary. USDT is now the largest stablecoin on the market, with a market capitalization of around $120 billion, far surpassing USDC (around $35 billion).
Paolo Ardoino, CEO of Tether, emphasized the company's mission to bring financial inclusion to billions of people, especially in developing countries where access to bank accounts is still limited. It seems that Tether is not only the "giant" of stablecoins but also the "hero" of emerging financial markets! đ
Tether now has 350 million active wallets and its user base has grown 24% over the past year. Another interesting detail is that Tether holds over $97 billion in US Treasury billsâmore than Germany, making it one of the top 20 investors in US Treasury bills.
Stablecoin â The Core Element
Stablecoins are not only a stable payment solution, but also a great contribution to the development of the digital asset market. No matter how the market fluctuates, stablecoins will still maintain a key position and be a typical application of blockchain technology in the financial sector.
