Monthly statistics show that tether (USDT) is the largest stablecoin by market capitalization. This month, the valuation surpassed $80 billion, a 2% increase. USDT has a huge market capitalization compared to other stablecoins in crypto. Its valuation is 42.78% of today’s $187 billion stablecoin industry.
Additionally, tether’s market capitalization of $80 billion is 4.46% in the $1.83 trillion crypto-economy. USDC (USDC), the second-largest stablecoin, has only seen a 0.3% increase in market capitalization.
USDC currently has a market value of $52.3 billion. This equates to approximately 2.92% of crypto-economy and 27.96% in stablecoin economics. On March 14, 2022, metrics showed that USDC, USDT and combined market capitalizations equate to more 70% of the stablecoin economy.
The U.S. Dollar ( USDT) has 42.16% of the current share, followed by the Turkisk Lira (TRY), which accounts for 17.41% of all tether trades. The euro, WBNB and HUSD are closely followed by TRY. USDC trades with tether a lot as USDT accounts for 64.18% of Monday’s tether swaps. BUSD, USD and EUR all trade with USDC using tether.
USDN, FRAX, and UST Record 30-Day Issuance Increases, Stablecoins Command 10 % of the Total Crypto Economy’s Net Valu
USDT, USDC saw no significant increases in the past month. However, UST, FRAX and USDN saw their 30-day issuance rates rise. Terra’s UST grew by 29.8%, and the stablecoin currently has a market capitalization around $14.7 billion as of the writing of this article.
Frax (FRAX) saw its 30-day issuance rate rise by 9.6%, while Neutrino Protocol’s USDN increased by 43.8% in the past month. FRAX is valued at $2.9 billion and USDN has a $638million market capitalization.
Makerdao’s stablecoin DAI saw its issuance fall by 4.6%, while magic internet money (MIM), saw a 0.2% drop this month. The market value of the Ethereum-based DAI is $9.3B, while that of the Avalanche-based MIM is $2.7B.
The entire stablecoin economy has only $13 billion to grow before it reaches the $200 billion mark. The $187 billion stablecoin market is more than 10% of the $1.83 Trillion crypto economy at the time of writing.