The stablecoin market is approaching the $250 billion barrier.
The latest data indicates that the stablecoin market (tied to fiat currencies) grew by $1.31 billion over the past week, bringing the total market value to $247.578 billion, just $2.422 billion away from the $250 billion mark.
Key developments:
- Dominance of Tether (USDT):
- USDT leads the market with a market value of $153.659 billion, representing 62.06% of the total value.
- Its value increased by 2.9% (i.e., $4.32 billion) over the last month.
- Performance of other currencies:
- USDC (from Circle) decreased by 1.48%, losing $909 million, but remains the second largest stablecoin with a value of $60.606 billion.
- FDUSD (from First Digital) was the best performer with a growth of 15.94% (gains of $192 million).
- DAI and USDe have achieved strong monthly gains of
14.44% and 14.78% respectively.
- The only losers:
- USDS (from Sky) decreased by 15.77% in the last month.
Market forecasts:
Changes in the distribution of market value among stablecoins indicate shifts in investor preferences and liquidity strategies, which may reflect deeper changes in trust and the strength of issuers. Market participants are expected to closely monitor these developments to take advantage of emerging opportunities.
