Stablecoins double in just three months! Stablecoins double in value as they capture a $20 billion dollar market share! All fiat-pegged tokens are worth more than 6% of the total $328 billion market capitalization of cryptocurrency.
USDT has captured just over 4% of the cumulative total of the stablecoins market share. Tether’s market cap is still a whopping $15.58 billion and USDT is capturing more trade volume than Bitcoin.
Despite tether’s dominance, USDC is now the only stablecoins other than Tether with over a billion dollar market cap. DAI is slowly inching towards the $1 billion mark, however. DAI is issued by Makerdao.
USDC is currently 12th in the market cap race, right below BSV and just above EOS. If the token’s market valuation continues to grow, it’ll be the second dollar-pegged coin to make it to the coveted top 10.
It’s important to note that stablecoins don’t have to be pegged to the USD. There are other ones, such as Status Euro (EURS), Bitcny (BITCNY), Binance GBP (BGBP), and Binance KRW (BKRW). US dollar based stablecoins represent about 2/3 of the fiat-pegged tokens in existence.
Status Euro currently holds the 9th position in the top ten of stablecoins with a $37 million dollar market cap.
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