The market capitalization of stablecoins marks the largest increase in three months

The market capitalization of stablecoins marks the largest increase in three months

The market capitalization of the six largest stable coins-USDT, USDC, DAI, BUSD, TUSD and USDP-has increased by over $ 1 billion, which has been the greatest increase in three months.

This could be seen as a fresh wind for these assets, since some have recently shown signs of weakness. USDT-the leading stable coin with a current market capitalization of over $ 83 billion-slightly deviates from its $ 1 parity last week, which causes concern in the community.

However, the price returned to the level of $ 1 in the following days, while Tethers CTO Paolo Ardoinino declared fluctuation with the recently triggered fud on the market.

StableCoins are on the right path again

according to data demonstrated According to Santiment, there was such an increase in the Stablecoin market capitalization on March 12th. The numbers were mainly driven by the performance of True USD (TUSD), whose market capitalization has increased from around $ 2 billion to over $ 3 billion in the past few days.

further explained that the overall jump takes place after a "gradual decline" in the past 15 months and a sign of an "increased purchasing power of cryptocurrencies".

The greatest fluctuations of this year in March and in the following years and in the following years the greatest fluctuations of this year came to disclosure Companies behind USDC) had a massive commitment of $ 3.3 billion in the fallen financial institution.

StableCoin market capitalization, Santiment

The asset fell well below its price target of $ 1 and reached $ 0.87, while the combined market capitalization of the six largest stable coins dropped to around $ 124 billion.

Circle promised to cover any investor losses due to the crisis and ensure that the company continues the normal business course. USDC reacted positively and again reached the evaluation of the Greenback, and the combined stable coin market capitalization of the six tokens exceeded $ 130 billion.

Latest changes in the StableCoin landscape

StableCoins has recently been in the spotlight, with some assets out of their competitors in relation to circulation or liquidity.

USDT with a market capitalization of more than $ 83 billion, the undisputed market leader in this area remains. It is worth noting that the number on June 12, at $ 83.8 billion, reached a maximum (according to Coingecko), but easily broke in the following days after the asset deviated from its price goal of $ 1.

The CTO of Tether, Ardoino, was unimpressed by the matter and said that the markets were "tense" when Fud is circulating in this area. And while Usdt quickly restored his assessment, it gave way to USDC, what was the liquidest stable coin on centralized stock exchanges.

Another development worth mentioning is the change of position between DAI and Busd. The former recently exceeded the latter increased its market capitalization and became the third largest stable coin behind USD and USDC.

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