Up to now 15 days, the stablecoin financial system skilled modest but regular enlargement, including $1.08 billion to its general worth. Throughout this time, tether’s market capitalization elevated by 790 million.
Modest $1.08B Development in Stablecoin Market Since Aug. 23
Development within the stablecoin financial system has slowed, although it continues to broaden, as highlighted by latest statistics. From Aug. 23, 2024, to Sept. 7, 2024, the stablecoin market grew from $169.72 billion to $170.80 billion, a achieve of $1.08 billion. On Saturday, the stablecoin financial system dominated commerce quantity, contributing $80.16 billion of the $114.2 billion traded within the final 24 hours.
Tether (USDT) noticed its provide rise from 117.39 billion to 118.18 billion USDT, whereas Circle’s USDC skilled smaller positive factors, rising by 50 million over the 15-day span. Nevertheless, DAI’s market provide dropped by 60 million since Aug. 23. Ethena’s USDE provide decreased by 330 million, and though FDUSD briefly surpassed USDE, it has since fallen again.
FDUSD, which stood at 2.65 billion, is now down 90 million, sitting at 2.56 billion right now. Regardless of these reductions, the expansion in USDT and a number of other different stablecoins helped the stablecoin financial system proceed its upward pattern, albeit at a slower tempo in comparison with earlier weeks. For example, within the 5 days main as much as Aug. 23, the stablecoin financial system expanded by $1.3 billion.
What do you concentrate on the $1.08 billion added to the stablecoin financial system during the last 15 days? Share your ideas and opinions about this topic within the feedback part under.
