In the last 12 days of April, the stablecoin sector expanded by $4.46 billion, reaching a current valuation of $155.86 billion. Additionally, the top five dollar-pegged cryptocurrencies experienced an increase in their supplies over the last 30 days.
Stablecoin Market Expands by $4.46 Billion in 12 Days
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Top Dollar-Pegged Cryptos See Growth Amid April’s First 12 Days
As of Friday, April 12, 2024, the stablecoin market is valued at $155.86 billion with a 24-hour global trade volume of $65.01 billion. Tether ( USDT), the largest stablecoin by market capitalization, increased its supply by 4.7% over the past month, and now boasts a market cap of approximately $107.16 billion. This accounts for over 68% of the total $155.86 billion stablecoin market value.
Circle’s USDC saw a 5.3% increase in the past 30 days, though its market capitalization slightly decreased from $32.46 billion on March 31 to $32.02 billion today. Makerdao’s DAI experienced a 7.9% increase over the past month, with its market cap rising from $4.9 billion to $4.93 million in the last 12 days. FDUSD’s market cap was about $2.56 billion 12 days ago and has now reached $3.93 billion after substantial growth.
Ethena’s USDE exhibited a substantial 149.4% growth in the last 30 days. From March 31 to April 12, USDE’s market cap increased from $1.53 billion to $2.38 billion. The five aforementioned dollar-pegged tokens collectively represent $150.42 billion of the $155.86 billion stablecoin market, accounting for 96.5% of its total value. Three of these stablecoins are also among the highest in terms of trading volume, although DAI and USDE’s trading activities show less intensity, with a notable amount of USDE’s supply being staked.
What do you think about the stablecoin economy’s growth over the past 12 days? Share your thoughts and opinions about this subject in the comments section below.
