Monday, June 27, 2022
HomeCrypto NewsStablecoin Economy Jumps 3.5% to $167 Billion in Two Weeks, Fiat-Pegged Coins...

Stablecoin Economy Jumps 3.5% to $167 Billion in Two Weeks, Fiat-Pegged Coins Command More Than 60% of Crypto Trades

The stablecoin economy has grown by 3.5% since December 8. 59% in 17 days as numerous stablecoin market valuations have issued more fiat-pegged tokens this month. On Saturday, December 25, the stablecoin economy’s $167 billion market valuation represents 6. 68% The entire $2. 49 trillion crypto market economy.

Stablecoin Issuance Rises 3.5%
There are many stablecoins that can be pegged to fiat currencies such as the U.S. dollars. While the U.S. Dollar is the most popular stablecoin peg, there are many others that correspond to the euro or the Swiss franc. The total value of all stablecoins was $167 trillion on Saturday, an increase of 3. 59% Since our last stablecoin report, our newsdesk has been updating it. The current most popular stablecoin is tether (USDT), which has a market value of approximately 7billion spread across multiple blockchains.

Top ten stablecoins by market valuation on December 25, 2021.
Tether’s sizable market capitalization is 46. 52% is the current stablecoin economy. Usd coin (USDC) is the second largest stablecoin in terms of market capitalization with $42.4 billion. While USDT increased 5.7% during the last month, USDC climbed 14% during the last 30 days. BUSD, UST and DAI are the third, fourth, and fifth largest stablecoin markets valuations, respectively. BUSD’s $14.8 billion market cap increased by 14.6% during the last month and UST’s issuance jumped by 36.6%.

60% Trades of Today Are Paired with Stablecoins
Makerdao’s stablecoin DAI saw a 2.9% increase in value, reaching $8.9 billion. Terra Protocol’s UST stablecoin has a value of 9. 18% larger with a valuation of around $9.8 billion at the time of writing. MIM, FRAX, and FEI saw notable issuance increases as well with anywhere between 15.6% to 42.4% during the last month. The stablecoin origin dollar (OUSD) spiked more than 102% over the last 30 days and SUSD jumped 38.7%.

The stablecoin economy commanded $55.4 trillion in trade volume on Saturday out of an aggregate $92.1 million reported volume. trades today are 15% of the trades are paired with stablecoins. The market leader in crypto assets, bitcoin (BTC), has witnessed around 59.. 68% today’s swaps using tether (USDT). The metrics for ethereum (ETH), the second most popular crypto asset, are similar to . 45% of all ether swaps are with tether as well.

This story contains tags

BUSD, CoinGecko and Cryptocompare

What do you think about the stablecoin market valuation during the last 17 days swelling around 3.59%? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News, is Jamie Redman. Redman has been an active participant in the cryptocurrency community since 2011.. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock. Pixabay. Wiki Commons. Coingecko.com.

Disclaimer: This article is intended for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the use or reliance of any content, goods, or services in this article.

Read More

Henry Hicks
Henry Hickshttps://nonfungibletalk.com
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

Most Popular