Home » Stablecoin Economy Grows Close to 10% Larger in 54 Days — GUSD, BUSD, USDC Issuance Jumps – Altcoins Bitcoin News

Stablecoin Economy Grows Close to 10% Larger in 54 Days — GUSD, BUSD, USDC Issuance Jumps – Altcoins Bitcoin News

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At the end of December 2021, the stablecoin economy’s market valuation was around $168.3 billion and since then, it has increased 9.92% to $185 billion in value. As some top dollar-pegged coin have seen their values rise by 20% in the past week, a number of stablecoins has issued more assets over the last seven days.

The Stablecoin Economy continues to grow

Stablecoins continue to be issued despite the fact that cryptocurrencies are losing value over the past two weeks, and falling below $2 trillion in the crypto economy. As of the writing date, the whole stablecoin economy was valued at $185 billionSince then, it has increased 9.92% December 30, 2021. Stablecoins currently make up 10.41% or $1.77 trillion of crypto currency. Moreover, the trade volume stablecoins are seeing on February 22, 2022, is around $62.7 billion, which equates to 61.47% of today’s crypto trade volumes worldwide.

However tether (USDT)The largest stablecoin in terms of market capitalization is Bitcoin, and the cap at $79.6 billion was only slightly increased this week. However, usd coin’s (USDC) market capitalization swelled by 21.6% and BUSD’s cap grew by 27.9%. Terra’s UST has seen issuance increase by 11% and Makerdao’s DAI6.1% spiked Avalanche is a based magic internet money (MIM)In the past seven days, its market capitalization fell by an incredible 40.6%.

Variety of Stablecoin Market Caps Declined, Tether Commands 84% of Today’s Stablecoin Trade Volume

Other than frax (FRAX)Market caps have fallen for the remainder of top stablecoins, including those in the 12th spot under MIM. FRAX grew by 2.6% last week, resulting in an overall valuation around $2.66 million. This is the most stablecoin USDTUSDC is now worth nearly $80 billion. In the meantime, Binance Smart Chain is a stablecoin asset BUSDAt $18.3 Billion today, it is rapidly approaching the $20 billion mark.

BUSD USDCThese were the fourth and third largest stablecoin gains this week, respectively. gemini dollar (GUSD)This week, there was a 50.4% increase in its value. The valuation of another stablecoin, bean (BEAN), increased by 30%. Furthermore, due to this week’s increase, BUSDHas entered the Top Ten Crypto Assets by Market Capitalization.

While there’s a myriad of stablecoins today, statistics indicate that tether (USDT) commands $53.2 billion of today’s $62.7 billion in dollar-pegged token swaps. That means, out of all stablecoins currently in existence, USDT’s massive trade volume represents 84.84% of the aggregate stablecoin trades on Tuesday.

In this story, tags
BUSD, crypto economy, DAI, FRAX, Gemini Dollar, GUSD, MIM, Stablecoin, Stablecoin Economy, stablecoin issuance, Stablecoins, Terra, Tether, Tether Limited, usd coin, USDC, USDT, UST

How do you feel about stablecoin’s growth in the past two months? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman is an active participant in the cryptocurrency community from 2011. Since 2011, Redman has been an active member of the cryptocurrency community. Redman has contributed more than 5,000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.




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