HomeNewsStablecoin Economy closer to $200 Billion, UST & USDT skyrocket

Stablecoin Economy closer to $200 Billion, UST & USDT skyrocket

Since the stellar growth of the crypto economy, all its affiliated economies have seen remarkable growth. So much so that the stablecoin economy is inching closer towards the $200 Billion mark, with UST and USDT skyrocketing since the past month.

Looking at the monthly statistics, Tether (USDT) has crossed the $80 billion mark in terms of valuation. Moreover, USDT is the largest stablecoin, towering other stablecoins such as UST, USDN, and USDC with a market share of 42.78%.

Besides all this, USDT has a share of 4.46% in the entire $1.83 trillion crypto economy. Compared to this, USDC, the second-largest stablecoin grew by only 0.3% last month.

As of now, USDC has a market valuation of $52.3 billion. This equates to 2.92% of the crypto economy. In terms of a stablecoin economy, that amounts to about 27.96%. Moreover, combining USDC and USDT, they cover about 70% of the entire stablecoin economy.

While the top two stablecoins did not have significant growth, other stablecoins have a big rise in issuance rate. Stablecoins such as UST, FRAX, and USDN saw a big rise with UST at 29.8%, FRAX at 9.6%, and USDN at 43.8%.

UST has a market capitalization of $14.7 billion, FRAX has a $2.9 billion market evaluation and USDN has a $638 million market capitalization.

Some stablecoins such as DAI and MIM saw a dip too, at 4.6% and 0.2% respectively.

In total, the stablecoin economy is about $13 billion away from entering the $200 billion zone. Also, the $187 billion stablecoin economy covers over 10% of the $1.83 trillion crypto economy.

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