Source: Original from Bijie.com
Author: Web3 Sniffing Observation
Stablecoins are the main bridge between the traditional financial system and the digital asset space, and their movements are often used to measure the health of the cryptocurrency market and investor confidence.
Monthly stablecoin transfer volumes have grown tenfold over the past four years, from $100 billion to $1 trillion per month. The importance of stablecoin assets has increased significantly, becoming a key component in the cryptocurrency market.
The market value of stablecoins has steadily increased since the beginning of this year
Generally speaking, a rise in the market value of stablecoins is often associated with increased investor confidence, indicating that more capital will flow into the cryptocurrency market.
According to data from Bijie.com, as of June 21, the cumulative market value of all stablecoins has exceeded US$162 billion, an increase of more than 24% so far this year from US$130 billion in January. Among them, Tether (USDT) is particularly prominent, with a market value of US$112.31 billion, accounting for 69.3% of the total stablecoin economic value. In addition to its significant market capitalization, USDT has also been leading the crypto market in trading volume.
Source: Bijie.com data
Stablecoins are cryptocurrencies pegged to stable assets such as fiat currencies, gold, or other cryptocurrencies. Since their introduction, stablecoins have had a significant impact on the cryptocurrency market.
The price stability provided by stablecoins has attracted a large number of individuals and institutions to adopt them, which has helped reduce the volatility of the entire cryptocurrency market and made it more accessible to a wider audience. In addition, stablecoins are the most popular trading pair applications on cryptocurrency exchanges, allowing traders to transfer funds to stablecoins when the market is volatile, and then convert them back to other cryptocurrencies when the market is stable.
Stablecoin transfer volume increased 10 times in 4 years
On Wednesday, on-chain data platform Token Terminal posted a message on X social media that the 30-day stablecoin transfer volume has grown significantly over the past four years. Token Terminal said: "Monthly stablecoin transfer volume has increased approximately 10 times over the past four years, from $100 billion to more than $1 trillion per month."
Stablecoins have taken an important place in the trading volume of global exchanges. According to the latest data, stablecoins account for 60.13% of the total trading volume, indicating that they play an increasingly critical role in the market.
USDT dominates the stablecoin market with its market capitalization of $112.31 billion and daily trading volume of $34.84 billion, but other stablecoins such as USDC, DAI, etc. are also growing rapidly, providing investors with more choices.
0x Planck, a core member of BOSS Wallet, said that the growing use of stablecoins is a positive sign of the increasing adoption of cryptocurrencies and the growing maturity of the cryptocurrency industry. This not only shows that the market demand for stablecoins is increasing, but also reflects that investors' trust and dependence on the cryptocurrency market is increasing.
The rapid growth of stablecoins highlights their growing importance in the cryptocurrency market. Although USDT leads, other stablecoins are not far behind. As stablecoins continue to dominate trading volume, their impact on the future of the entire crypto economy will become more and more apparent.
