1. Aiwaka AdventuresHome
  2. Digital Disruptors

Stable Coins Market Value Rises with USDT Leading the Way

• Digital Disruptors • 82 views

According to the report, according to the data of Coinsecko, the current total market value of the stable currency is about 136.5 billion US dollars, of which …

Stable Coins Market Value Rises with USDT Leading the Way

According to the report, according to the data of Coinsecko, the current total market value of the stable currency is about 136.5 billion US dollars, of which the market value of USDT, USDC and BUSD are respectively 718, 439 and 8.47 billion US dollars, and the market value of USDT accounts for a new high since November 2021.

The current total market value of stable currency is about US $136.5 billion

Analysis based on this information:


The report highlights the current market value of stable coins, which as per the data of Coinsecko, has reached about 136.5 billion US dollars. Stable coins are cryptocurrencies that are tied to real-world assets like fiat money or gold, thereby providing stability in their value. USDT, USDC, and BUSD are the three most popular stable coins in the market, and their combined market value stands at 136.5 billion US dollars.

Among the three, USDT is leading the way with a market value of 718 billion US dollars. This marks a new high since November 2021, indicating the growing interest in this stable coin amidst the volatile cryptocurrency markets. USDT is unique as it is pegged to the US dollar, making it a safer option for investors who prefer a stable return on their investment. Moreover, USDT is widely used in trading pairs across various cryptocurrency exchanges, further boosting its popularity.

Despite USDT’s dominance in the stable coin market, USDC and BUSD are also emerging as popular alternatives. USDC has a market value of 439 billion US dollars, making it the second most valuable stable coin in the market. USDC is unique as it is governed by a consortium of companies and is monitored by trusted third parties. BUSD, on the other hand, has a market value of 8.47 billion US dollars and is backed by both US dollars and US Treasury bonds, making it a safer option for investors.

The increasing market value of stable coins indicates a growing interest among investors who seek stability in their returns, particularly during times of market volatility. Stable coins offer investors a safe haven during market downturns by maintaining their value relative to other assets. Additionally, the rise in the use of stable coins underscores the growing adoption of cryptocurrencies in mainstream finance.

In conclusion, the report highlights the significant market value of stable coins, led by USDT, USDC and BUSD. The increased adoption of stable coins and their growing market value indicate a shift towards a more stable and sustainable cryptocurrency market. As more investors seek stability in their portfolios, stable coins are set to gain further prominence.

References:
https://www.coindesk.com/learn/stablecoins
https://coinmarketcap.com/alexandria/article/stablecoins-explained
https://www.bitcoinmarketjournal.com/stablecoins/

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/03/07/stable-coins-market-value-rises-with-usdt-leading-the-way/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/07/2023 01:09
Next 03/07/2023 01:14

Recommended articles