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

Nearly two months ago on April 11, Stapleco’s economy was valued at $ 190 billion and was approaching $ 200 billion. However, after the fall of Terra Staplecoin, the fiat-pecked token economy lost $ 16.31 billion in value. Although that value was erased from the Staplecoin market, the Staplecoins were 9.35% of the net worth of the entire crypto-economy at that time. 61 days later, the crypto economy is worth approximately $ 1.15 trillion and the Staplecoin economy is up 13.8% today.

In 61 days, Stablecoin’s dominance increased from 9% to 13.8%.

For the first time in history, Three standard coins 36 days ago on May 6, 2022, there were the top ten digital currencies based on market valuation. At the time, it was Tether (USDT), USD currency (USDC), and Terrasse (UST), but that was before the UST eruption.

Even if Thorsten is gone, there are still three stable coins in the top ten today because Finance BUSD (BUSD) is the seventh-largest crypto asset in terms of market cap. Two months ago on April 11, there was the economy of Stapleco Worth $ 190 billion But today, Staplecoin’s market value is now $ 159 billion.

The Stablecoin market is approaching 15% of the market value of the entire crypto economy
On May 6, shortly before the UST $ 1 was removed from the party, the tether, the USD, and the Trust were the top three staple coins in the top ten largest market cap currencies. Today, without the UST, the BUSD has entered the top ten.

In April, the entire crypto-economy was worth $ 2.03 trillion, and today it is worth approximately $ 1.15 trillion. Although Terra’s USD fall has left the Staplecoin economy in the billions, it still dominates more than it did when it approached $ 200 billion.

The Stablecoin market is approaching 15% of the market value of the entire crypto economy
As of April 11, 2022, the $ 190 billion staple coin market cap was 9.3% of the $ 2.03 trillion value of the entire crypto economy. Today, at $ 159 billion, Staplecoin’s economy is now 13.8% of $ 1.15 trillion in total value.

Staplecoins account for total trading volume, and at the time of writing, Fiat-pecked tokens accounted for $ 46.1 billion, while all crypto assets accounted for $ 71.6 billion. Data show that 64.38% of all digital currency trades today are converted against staple coin pairs.

For example, Tether (USDT60.26% Trading of Bitcoin (BTC) When the global trading volume BUSD commands 10.05%. USDT And is BUSD BTCBy Cryptocompare.com scales, the first two trading pairs at the time of writing.

Tether (USDT) Is still the king of staple coins with a market value of $ 72 billion, which accounts for more than 6% of the entire crypto economy. The Usd Currency (USDC) is the second-largest fixed currency by market capitalization at $ 53.7 billion.

The USDC today dominates the crypto economy by more than 4% and is affiliated with the USDC and both USDT 13.40% is 76.92% of the total Stapleco dominance. BUSD, meanwhile, is 1.58% of the total crypto economy. It accounts for just over 1% of the crypto economy, which is made up of staple coins such as DAI, FRAX, TUSD, and USDP.

Tags in this story

Altcoins, Bitcoin (BTC) pairs, Busty, DAI, fiat-pegged tokens, FRAX, M.I.M., Stablecoin, Stablecoin economy, stablecoin pairs, Stablecoins, Terrausd (UST), Trade volume, Business, and, USDC, USDP, USDT

 

Jamie Redman is a news technology news correspondent at Bitcoin.com and a financial technology journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is interested in Bitcoin, open-source code, and distributed applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News.


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