The StableCoin economy continues to increase because the market capitalization of USDC exceeds $ 50 billion-altcoins

Since the total amount of 12,333 digital currencies has a value of just over $ 1.8 trillion, the StableCoin economy has recently grown to $ 178.8 billion or $ 9.9 % of the total crypto economy. From the upper five StableCoins Usd Coin (USDC) experienced the strongest leap in its market capitalization and has increased by 18.9 %in the past 30 days. The increase of 18.9 % has raised the USDC market capitalization over the 50 billion dollar brand.

USDC market capitalization increases to over $ 50 billion, stablecoin makes 2.83 % of the USD value of the Crypto Economy

StableCoins grow in 2022, since numerous fiat-bound token projects recorded an increase in their output quantities in the first month of the year. At the time of writing this article, the USD value of all stable coins is now $ 178.8 billion.

HALDSIAL ( usdt ) is the largest StableCoin project with a valuation of around 78.5 billion US dollars. usd The overall rating of 4.34 % of the total crypto economy of $ 1.8 trillion. However, Tether did not grow growth last month because the overall rating has remained unchanged.

USDC, on the other hand, has grown by 18.9 % in the last 30 days and the market evaluation is now over $ 50 billion. The market capitalization of USDC is 2.83 % of the total USD value of crypto economy.

Both usdt and usdc together 7.17 % of the fiat value of all existing coins today. Although these upper limits are much smaller than that of Bitcoin ( bitcoin ) 39.2 % dominance and ethereum ( eth ) 17.7% dominance, still represent the third and fifth largest crypto rating.

StableCoin Frax grew by more than 36 %

among the five best stable coins after market capitalization, an increase in capitalization by $ 16.2 billion this month. Terras StableCoin USt rose by 9.8 % to $ 11.3 billion in 30 days.

Makerdaos Dai recorded an increase in market capitalization by 1.1 % to $ 9.2 billion. The Magic Internet Money (MIM) based on Avalanche recorded a loss of $ 2.8 billion by $ 37.2 % compared to the previous month. The market capitalizations of the seventh, eight and ninth largest stablecoin markets rose.

The seventh largest USD-bound Coin Frax (Frax) has a market capitalization of $ 2.6 billion, which rose by 36.2 % last month. The upper limit of Trueusd (TUSD) rose by 17.7 % and the Pax dollar (USDP) rose by 3.3 % in the last 30 days.

The tenth largest stablecoin, FEI USD (FEI), fell by 26.3 % last month. Both Frax and USDC recorded the biggest climbs last month.

What do you think about the increase in the stable coin economy last month and the increase in USDC to over $ 50 billion? Let us know your opinion on this topic in the comment area below.

Jamie Redman

Jamie Redman is the news manager at Bitcoin.com News and a Journalist for Financial Technology living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com news about the disruptive protocols that arise today.

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