During the last week of November, the stablecoin economy had crossed the $150 billion mark for the first time with tether and usd coin dominating the pack. In a mere ten days, the stablecoin economy gathered another $11 billion in value with origin dollar and terra usd swelling significantly during the last 30 days.
$11 Billion Added to the Fiat-Pegged Token Economy
Stablecoins are definitely a prominent part of the crypto industry whether people like them or not. In ten days’ time, the entire stablecoin economy has grown 7.33% larger from $150 billion to today’s $161.2 billion.
Month after month, stablecoin markets have swelled, and the token tether (USDT) is the largest stablecoin in terms of market valuation. Statistics indicate that USDT has a market valuation of around $77.3 billion and its market cap grew 6.1% during the last month.
Usd coin (USDC) is the second-largest stablecoin today with a market valuation of around $41 billion. USDC’s market cap grew by a sizable 19.5% during the last 30 days. The aggregate of USDT and USDC combined is 4.75% of the entire crypto economy.
In terms of the stablecoin economy alone, the two tokens USDT and USDC command 73.21% of the aggregate $161 billion in fiat-pegged tokens. While tether captures most of the trade volume, USDC commands the third-largest stablecoin trade volume below BUSD.
Terra and Origin Stablecoin Issuance Balloons Over the Last Month
Terra’s stablecoin UST has seen the largest increase in the top ten stablecoin markets during the last 30 days, with its market cap growing by 190%. A month ago, Terra’s UST market cap was only $2.88 billion.
The algorithmic stablecoin UST has a valuation of around $8.3 billion today
