The rapid growth and diversification of the stablecoin market, led by Tether, underscores its crucial role in the evolution of digital finance and its impact on global liquidity.
He stablecoin market experiences notable growth, reaching a market capitalization of $132 billion in Tether.
As of today, the global cryptocurrency market is valued at $3.33 trillion, and stablecoins represent between 5.7% and 6.2% of this total, depending on the tracking platform used. And according to Coingecko data as of November 27, the stablecoin sector has an estimated value of US$200.64 billion, a figure that includes assets with characteristics similar to those of traditional stablecoins, such as the backed token in gold PAXG from Paxos and XAUT gold coin from Tether.
The evolution of the stablecoin market
Compared to almost four years ago, on February 18, 2021, when the valuation of stablecoins was just $47.84 billion, the growth is more than remarkable. Today, that market grew by 319.28%, reaching a value of US$200.64 billion.
Defillama.com, which excludes gold-backed assets, estimates the market at US$189.88 billion, reflecting a significant increase from the US$66.32 billion reported in April 2021, implying a growth of 186, 3%.
Stablecoins are seeing notable growth, with Tether (USDT) leading the sector, reaching a market capitalization of $132.79 billion, according to Coingecko. In February 2021, USDT was valued at $33.13 billion, representing an increase of more than 300%.
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Circle USDC has seen even more impressive growth, rising 432.98%, going from $7.34 billion to $39.08 billion in the same period.
The ranking of the main stablecoins has also changed in recent years. While in 2021 the top five were USDT, USDC, DAI, BUSD and USDP, today the top five are USDT, USDC, USDS, USDE and DAI. USDS and USDE stand out as yield-generating stablecoins, reflecting market diversification.
The impressive growth of the stablecoin sector underlines its key role in the digital economy. These assets are redefining liquidity and utility within the crypto ecosystem, consolidating themselves as essential pieces for the future of decentralized finance.
Source: Ambito
