On April 23, 2024, the total market capitalization of stablecoins crossed the $160 billion mark, according to CoinGecko. Daily trading volume of stable coins rose above $34.5 billion.
Market capitalization of stablecoins. Source: CoinGecko.
The largest stablecoin in terms of market capitalization is USDT from Tether – almost $110 billion. USDC is in second place with $33.8 billion, and DAI is in third place with $5.25 billion.
Note that, according to the DeFiLllama analytical panel, the capitalization of “stable coins” is $157.49 billion, and the dominance of USDT is 69.99%.
Stablecoin capitalization data. Source: DeFiLllama.
You can see that the capitalization of stablecoins is growing by $10 billion every month. In February 2024, this figure was $140 billion, and in March – $150 billion.
Source: Cryptocurrency
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