Stablecoin economy increases to over $ 150 billion, stable coins dominate over 50% of the global crypto trade volume-altcoins

A large number of digital currencies has gained value this year and towards the end of 2021 the market capitalization of all more than 11,000 existing crypto assets is about $ 2.6 trillion. Nowadays one can certainly say that dollar-bound tokens, also known as stable coins, have a strong presence on the cryptomarkt. Today the market capitalization of all stable coins in the world is more than $ 152 billion or 5.84% of the USD value of the crypto economy.

stablecoins have experienced massive growth in crypto economy

stablecoins were a hot topic in the world of cryptocurrencies, since the growth of this token bound to dollars was quite significant in 2021. Basically, a stable coin is a kind of cryptocurrency that uses the value of an external reference such as the US dollar or other Fiat currency.

The currently largest stable coin in terms of market capitalization is Tether ( usdt ) amounts. In the last 30 days, usdt the market evaluation of has increased by 3.9%. The second largest stable coin in terms of market capitalization is USD (USDC) with $ 37.6 billion, which corresponds to an increase of 15.2 % in 30 days

2 dollar-bound tokens represent 73% of the stablecoin economy, stable coin trading pairs dominate

While the StableCoin market assessment is $ 152 billion, usdt and USDC have over 111.55 billion US dollar or $ 73.38 % of the StableCoin economy. While the market capitalization of USDC is more than usdt s, it was not the biggest increase last month within the top-ten-table coin classification. The market capitalization of StableCoin Terra USD (VAT) rose by 164.1% and the Frax (Frax) rose by 119%. The StableCoin Magic Internet Money (MIM) rose by 56.8% and the Liquity USD (LUSD) rose by 49%.

The presence of stable coins is strong and in the last 24 hours the StableCoin trading volume was more than 50% of the global trade volume of the crypto economy. Bitcoin ( btc ) markets alone show tether ( usdt ) represents 52.63 % of all btc Swaps today and the stable coin called Busd issued by Binance orders 7.05% of BTC Commercial volume. USDC is the seventh largest retail couple with btc and catches 1,75 % of all one btc exchanges.

eat ( eth ) markets are not much different than usdt represents 45.11 % of today's ether trading pairs. Busd represents 9.60% of all btc swap on Friday and USDC commands of 1.68%. Whether cryptoma markets are Bärisch or Bullisch, stable coins like usdt , busd and usdc were btc ’s and eth ’s top trading pair in 2021, in addition to fiat currencies such as USD, JPY and EUR. The same applies to the vast majority of top coins in crypto economy, since stablecoin pairs represent a large part of the trades these days.

What do you think of the swelling stable coin economy? Let us know your opinion on this topic in the comments below.

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