In the last week of November, the stablecoin economy topped the $ 150 billion mark for the first time, with tether and usd coins dominating the pack. In just ten days, the stablecoin economy has appreciated an additional $ 11 billion in value, with the original dollar and terra USD increasing significantly in the past 30 days.
$ 11 billion added to the fiat-linked token economy
Stablecoins are definitely an important part of the crypto industry whether people like them or not. In ten days, the entire stablecoin economy grew 7.33% from $ 150 billion to $ 161.2 billion today.
The stablecoin markets have swelled month after month and the token tether (USDT) is the largest stablecoin in terms of market valuation. Statistics show USDT has a market valuation of around $ 77.3 billion and its market cap is up 6.1% over the last month.
The Usd-Coin (USDC) is now the second largest stablecoin with a market valuation of around 41 billion US dollars. USDC’s market cap is up a whopping 19.5% over the past 30 days. The sum of USDT and USDC together makes up 4.75% of the entire crypto economy.
In terms of the stablecoin economy alone, the two tokens USDT and USDC hold 73.21% of the total of $ 161 billion in fiat-linked tokens. While Tether captures most of the trading volume, USDC has the third largest stablecoin trading volume under BUSD.
Terra and Origin stablecoin spending balloons last month
Terras Stablecoin UST has seen the sharpest surge in the top ten stablecoin markets over the past 30 days, with a market cap of 190%. A month ago, Terra’s UST market cap was only $ 2.88 billion.
The algorithmic stablecoin UST is valued at around $ 8.3 billion today and has a global trading volume of $ 178 million. UST’s market cap is just below DAI’s valuation of $ 8.95 billion. The algorithmic stablecoin issued by Terra also ranks above Abracadabra.money’s Internet Magic Money (MIM) and its $ 3.7 billion market.
The high-yielding stablecoin Origin Dollar (OUSD) issued by the Origin Protocol (OGN) has risen a whopping 721% in the past 30 days. OUSD has a total market valuation of approximately $ 226.5 million and a trading volume of $ 2.7 million. The stablecoin now has the 15th largest dollar-pegged valuation of digital assets.
Other stablecoins that saw notable 30-day moves include Frax, Pax Dollars, and Liquity usd. In addition to fiat-linked tokens that are pegged to the value of the USD, a number of stablecoins based on various fiat currencies such as the euro and the Turkish lira have also seen significant growth within 30 days.
What do you think of the stablecoin economy over the past ten days and UST and OUSD growth over the past month? Let us know what you think on this matter in the comments below.
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