Skip to main content

Stablecoin Ecosystem Holds Firm Despite Lackluster Activity

Stablecoin Ecosystem Holds Firm Despite Lackluster Activity

The stablecoin economy has remained relatively lackluster over the past 30 days, fluctuating slightly above or slightly below the $124 billion range. In the last 24 hours, the global trade volume for fiat and commodity-pegged tokens has reached $11.55 billion.

Stablecoin Market Shows Resilience Amidst Volume Stagnation and Redemptions

As of September 17, 2023, coingecko.com reports that the total value of all stablecoin tokens is $123.86 billion. Tether (USDT), the leading stablecoin by market capitalization, holds the top position with $83,050,991,214. USDT’s supply increased by 0.8% over the past month.

On Sunday, USDC’s market cap stood at $26.16 billion, with its supply increasing by 0.6% in the past 30 days. DAI’s supply has decreased by 1.1% compared to 30 days ago, currently standing at $3.84 billion. TUSD’s supply has surged, showing a 12.9% increase over the month, bringing its market cap to $3.1 billion. Binance usd (BUSD) has experienced a significant supply decrease of 23.8% over the same period, falling below the $3 billion mark.

With a market cap of $2.49 billion, BUSD now ranks as the fifth-largest stable token by valuation. BUSD is followed by Tron’s USDD, which has increased by 0.7% to reach $724 million. FRAX, Frax’s stablecoin, has seen its supply decrease by 16.5% in the past 30 days, resulting in a current market cap of $669 million. Pax Dollar (USDP) has decreased by 2.4% in the past month, with a market cap hovering around $492 million.

FDUSD has experienced the most significant growth, rising by 52.7% over the 30-day period. FDUSD’s market cap today is $393 million, with approximately $136.72 million in 24-hour trade volume. Liquity USD (LUSD) has seen a 1.8% decrease in supply over the past 30 days and currently has a market cap of around $280 million.

In recent months, stablecoins have seen significant redemptions and lower trade volumes, similar to previous months. Presently, however, redemptions (except for BUSD) have slowed, and the market valuation of fiat-pegged tokens has stabilized. Today’s stablecoin trade volume of approximately $11.55 billion accounts for 54.07% of the day’s total trading volume across the entire crypto economy, reflecting this stability.

What do you think about the stablecoin action over the last 30 days? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/rFObnem
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more