Stablecoin Economy Is $10 Billion Away From Reaching a $200 Billion Market Cap

Stablecoin Economy Is $10 Billion Away From Reaching a $200 Billion Market Cap

The stablecoin economy has grown during the last month as the market capitalization is now only $10 billion away from reaching the $200 billion mark. While the largest stablecoin, by market valuation, tether (USDT) swelled by 3% during the last 30 days to $82 billion, terrausd (UST) has increased by 15.4% to $16.7 billion. Stablecoin Economy Swells by 1.65% in 30 Days Nearing the $200 Billion Milestone

According to statistics on Monday, April 11, 2022, the stablecoin economy is worth $190.1 billion. During the last 24 hours, stablecoins have captured $68 billion in trade volume out of the aggregate of $107 billion worth of today’s global trade volume. The largest of the bunch is tether (USDT) and over the last 30 days, USDT increased by 3%. Tether now holds an $82.6 billion market valuation which represents 4.21% of the entire crypto economy. The stablecoin economy is now $190 billion. Chart via coingecko.com on April 11, 2022.

The second-largest stablecoin usdcoin (USDC) saw a decline over the last month dropping 2.9%. BUSD also dropped during the last 30 days, losing 1.2% during the timeframe. The fourth-largest stablecoin, in terms of market capitalization, terrausd (UST) spiked by 15.4%. UST’s market capitalization on Monday is $16.7 billion or 0.85% of the entire crypto economy’s current value at $1.96 trillion.

Makerdao’s DAI is the fifth largest stablecoin today with $8.9 billion, but during the last 30 days, its market valuation slid by 4.9%. Neutrino USD (USDN) has been having troubles in recent times keeping the $1 peg, but it’s market cap over the last 30 days increased by 70.2%. Besides USDN’s steep jump, HUSD spiked by 16.8% during the last month increasing its market valuation to $294 million.

Gemini dollar’s (GUSD) valuation saw a steep decline over the last month losing 23.9% during the timeframe. Trueusd’s (TUSD) market cap has also lost 9% during the last 30 days as well. Despite some of the losses during the last month, the entire stablecoin market valuation has expanded by 1.65% in 30 days.

With Terra’s UST at $16.7 billion and BSC’s BUSD at $17.8 billion, UST is coming awfully close to surpassing the BSC stabecoin. Additionally, after swelling another $10 billion higher than today’s current stablecoin economy value, the fiat-pegged crypto assets will reach the $200 billion milestone. Tags in this story Altcoins, DAI, FRAX, growth, increase, issuance, issuance levels, Magic Internet Money, MIM, Neutrino Protocol, Stablecoin Economy, stablecoin market cap, Stablecoins, Swelling, Terra, Tether, tether market cap, USDC, USDC market valuation, USDN, USDT, UST

What do you think about the stablecoin economy’s continued growth? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Elon Musk Suggests Making Dogecoin a Payment Option for Twitter Blue Service ALTCOINS | 24 hours ago 12 Companies Keep Close to $700 Million in Ethereum in Treasuries ALTCOINS | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleTotal Value Locked in Defi Takes a Hit Losing $21 Billion in 6 Days Next articleCoinbase Is Creating a Film Trilogy Featuring Bore Ape Yacht Club NFT Characters Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItUS Bond Markets Signal Economic Downturn, Trend Forecaster Says if War Ensues "Odds of Recession Increase"

As Americans continue to deal with rising inflation, on Tuesday the spread between 2-year and 10-year Treasury yields inverted, signaling the U.S. economy may be headed for a recession. This week, a myriad of financial reports have noted that the ... read more.Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC 19 Million Bitcoin Have Been Mined Into Circulation, 2 Million Left to Be Found Sanctions Motivate Russia to Create Own Crypto Market Infrastructure, Finance Ministry Says Vaneck Report Calculates Bitcoin Price Could Tap $4.8M if BTC Becomes the Global Reserve Currency