Fun

Stablecoin Market Nears 15% of the Entire Crypto Economy’s Market Valuation

News Feed - 2022-06-13 12:06:50

Stablecoin Market Nears 15% of the Entire Crypto Economy"s Market Valuation


Roughly two months ago on April 11, the stablecoin economy was valued at $190 billion and was getting closer to surpassing $200 billion in value. However, after the Terra stablecoin fallout, the fiat-pegged token economy lost $16.31 billion in value since then. While that value was erased from the stablecoin market, stablecoins themselves represented 9.35% of the entire crypto economy’s net U.S. dollar value at the time. 61 days later, the crypto economy is worth roughly $1.15 trillion and the stablecoin economy represents 13.8% of that total today. In 61 Days, Stablecoin Dominance Swelled From 9% to 13.8%


For the first time in history, three stablecoins were top ten digital currencies in terms of market valuation 36 days ago on May 6, 2022. At the time, it was tether (USDT), usd coin (USDC) and terrausd (UST), but that was before the UST implosion.


While terrausd is gone, there’s still three stablecoins in the top ten today, as binance usd (BUSD) is the seventh-largest crypto asset as far as market cap is concerned. Two months ago on April 11, the stablecoin economy was valued at $190 billion but today, the valuation of the stablecoin market is now $159 billion. On May 6, just before UST de-pegged from the $1 parity, tether, usd coin, and terrausd were the top three stablecoins in the top ten largest market cap coins. Today, with UST gone, BUSD has entered the top ten standings.


On that day in April, the entire crypto economy was valued at $2.03 trillion and today it’s worth roughly $1.15 trillion. Even though Terra’s UST fallout saw billions leave the stablecoin economy, it dominates by a lot more than it did when it was nearing $200 billion. On April 11, 2022, the $190 billion stablecoin market cap equated to 9.3% of the entire crypto economy’s $2.03 trillion. Today, at $159 billion, the stablecoin economy is now 13.8% of the aggregate value of $1.15 trillion.


Stablecoins account for whole lot of trade volume as well, and at the time of writing, fiat-pegged tokens have seen $46.1 billion in trade volume, while all the crypto assets combined saw $71.6 billion. The data shows that 64.38% of all the digital currency trades today are swapped against stablecoin pairs.


For instance, tether (USDT) trades account for 60.26% of bitcoin’s (BTC) global trade volume while BUSD commands 10.05%. USDT and BUSD are BTC’s top two trading pairs at the time of writing, according to cryptocompare.com metrics.


Tether (USDT) is still the king of stablecoins with an $72 billion market valuation that represents more than 6% of the entire crypto economy. Usd coin (USDC) is the second-largest stablecoin by market cap with $53.7 billion in value.


USDC dominates today by more than 4% of the crypto economy and combined both USDC and USDT make up 76.92% of the entire stablecoin dominance of 13.40%. BUSD meanwhile, represents 1.58% of the entire crypto economy. That leaves a little more than 1% of the crypto economy that stem from stablecoins like DAI, FRAX, TUSD, and USDP. Tags in this story Altcoins, Bitcoin (BTC) pairs, BUSD, DAI, fiat-pegged tokens, FRAX, MIM, Stablecoin, Stablecoin Economy, stablecoin pairs, Stablecoins, Terrausd (UST), trade volume, trading, tusd, USDC, USDP, USDT


What do you think about the stablecoin economy representing 13.8% of the entire crypto economy? 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. Circle Announces the Stablecoin USDC Is Now Supported by the Polygon Network ALTCOINS | 4 days ago 2 Tokenized Gold Crypto Projects Saw Massive Growth Over the Last 15 Months ALTCOINS | 6 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleMeme Token King Dogecoin Lost 91% in Value Since Last Year’s High, DOGE Mining Revenue Plummets Next articleMoneygram Launches USDC Crypto-to-Cash Program in Certain Markets 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 ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days


Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin

News Feed

Is Defi Coming to Bitcoin Cash? An Overview of Detoken and the Anyhedge Protocol
Is Defi Coming to Bitcoin Cash? An Overview of Detoken and the Anyhedge Protocol Maybe you’ve heard of Anyhedge. Last April, news.Bitcoin.com published an
Trump’s USD1 Playbook: 3 Best Presales Rewarding Early Supporters Like WLFI
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Three Arrows Capital Founders Served Subpoenas via Twitter in Bankruptcy Process
Three Arrows Capital Founders Served Subpoenas via Twitter in Bankruptcy Process The founders of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC) have been serv
Trader claims to lose $310K on dodgy exchange pitched in LinkedIn request
Felix Ng4 hours agoTrader claims to lose $310K on dodgy exchange pitched in LinkedIn requestThe investor said they learned about the exchange from a “random friend request on LinkedIn.”1112 Total views2 Total sharesL
Jesse Coghlan5 hours agoNifty News: Trader nabs 800 ETH by baiting a bot, NFT thefts slow and moreA trader walked off nearly $1.5 million richer after tricking a bot copying his trades to buy a slew of NFTs at a markup.1
Bitcoin Consolidates as Realized Profits Stay Low – No Signs Of Major Sell-Off Yet
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Reggie Middleton Reaches $9.5 Million SEC Settlement Over ICO Fraud
The U.S. Securities and Exchange Commission (SEC) said it has reached a settlement with Reggie Middleton, organizer of the fraught $14.8 million Veritaseum (VERI) initial coin offering (ICO).
Digital Collectible Owners Continue to Take Loans out Using NFTs as Collateral
Digital Collectible Owners Continue to Take Loans out Using NFTs as Collateral While non-fungible token (NFT) collectibles have become a hot commodity over the last 12 months, a nu
South Korea's strict laws on crypto exchanges come into force
Ciaran Lyons52 minutes agoSouth Korea"s strict laws on crypto exchanges come into forceThe new regulations issued by South Korea’s watchdog to protect user assets on crypto exchanges went into effect on July 19.312 Tot
Nigerians Can Now Buy Bitcoin With Cash From Stores and ATMs That Take Naira
Nigerians Can Now Buy Bitcoin With Cash From Stores and ATMs That Take Naira If there’s a place where cryptocurrencies draw significantly more attention than anywhere else
Zhiyuan Sun2 hours agoUniswap to charge 0.15% swap fees beginning Oct. 17Fees will not be collected on inter-stablecoin trades, nor on wrapping Ether.1166 Total views7 Total sharesListen to article 0:00NewsJoin us on soc
Jack Dorsey's Square Crypto Poaches Dev Talent from Facebook's Libra & Google
As if Facebook"s Libra doesn"t have enough trouble, they just lost a developer to a rising crypto star. Square Crypto has poached a trio of blockchain developers from across the tech industry including Lightning Labs, Fa