Stablecoin economy soars to over $ 150 billion, stablecoins dominate over 50% of global crypto trading volume – Altcoins Bitcoin News
Large numbers of digital currencies have -preciated in value this year, and by the end of 2021 the market c -italization of all 11,000+ existing crypto assets will be around $ 2.6 trillion. Today it is safe to say that dollar pegged tokens, also known as stablecoins, have had a strong presence in the crypto market. Today, the market c -italization of all stablecoins in the world is more than $ 152 billion, or 5.84% of the USD value of the crypto economy.
Stablecoins have seen massive growth in the crypto economy
Stablecoins have been a hot topic in the cryptocurrency world as the growth of these dollar-pegged tokens was quite significant in 2021. Basically, a stablecoin is a type of cryptocurrency that uses the value of an external reference such as the US dollar or another fiat currency.
Top ten stablecoins by market c -italization on November 26th, with the valuation of each stablecoin over 30 days, according to Coingecko’s “Top Stablecoins by Market C -italization” list.
Currently the largest stablecoin in terms of market c – is Tether (USDT) as its current market valuation is $ 73.95 billion. Over the past 30 days, USDT’s market valuation is up 3.9%. The second largest stablecoin in terms of market c -italization is the usd coin (USDC) at $ 37.6 billion, up 15.2% in 30 days.
2 dollar-pegged tokens represent 73% of the stablecoin economy, with stablecoin trading pairs dominating
While the stablecoin market valuation is $ 152 billion, the USDT and USDC together dominate $ 111.55 billion, or 73.38% of the stablecoin economy. While USDC’s market c – rose faster than USDT’s, it wasn’t the largest increase in the top ten stablecoin rating last month. The market c -italization of the stablecoin Terra usd (UST) rose 164.1% and the Frax (FRAX) rose 119%. The stablecoin Magic Internet Money (MIM) rose 56.8% and the Liquity USD (LUSD) rose 49%.
The presence of stablecoins is strong and in the last 24 hours the stablecoin trading volume was more than 50% of the global trading volume of the crypto economy. Bitcoin (BTC) markets alone show that Tether (USDT) accounts for 52.63% of all BTC sw -s today and the stablecoin issued by Binance called BUSD controls 7.05% of BTC’s trading volume. USDC is the seventh largest trading pair with BTC, c -turing 1.75% of all BTC sw -s.
The Ethereum (ETH) markets are not much different as USDT makes up 45.11% of today’s ether trading pairs. BUSD represents 9.60% of all BTC sw -s on Friday and USDC has 1.68%. Regardless of whether the crypto markets are bearish or bullish, stablecoins like USDT, BUSD and USDC were the most important trading pairs of BTC and ETH in 2021 alongside fiat currencies like USD, JPY and EUR. The same goes for the vast majority of the top coins in the crypto economy, as stablecoin pairs represent a large part of the trades these days.
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BUSD, CoinGecko, Cryptocompare, DAI, Fiat Tokens, Fiat-Pegged, FRAX, GUSD, Stablecoin, Stablecoin C -s, Stablecoin Trades, Stablecoin Trading, Stablecoin Volumes, Stablecoins, SUSD, Tether, Tether (USDT), trading volume, tusd, USDC, USDT
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