The capitalization of all stablecoins rose nearly 6% to $ 141.5 billion
In mid-October, the market capitalization of all existing stablecoins was $ 134 billion, and in the past three weeks that metric has grown 5.59% to $ 141.5 billion.
USDT, the largest stablecoin by market capitalization, is up 6% this month and has a total of 71.8 billion tokens in circulation, while the second largest stablecoin, USDC, is up 5.8% a year at $ 34.2 billion.
Among the top five stablecoins, the stablecoin DAI issued by Makerdao saw the largest increase, up 27.3% last month, and currently has a market capitalization of $ 146 billion. Terra USD, the stablecoin issued by the Terra network, currently has a capitalization of $ 65 billion and has grown 6.7% in 30 days.
The 5 best stablecoins. Source: Coinmarketcap
An exception among the top stablecoins in sixth place is the Magic Internet Currency (MIM) with a massive 30-day profit of 152.3%. The MIM issued by abracadabra.money has a market capitalization of $ 2.5 billion and a 24-hour trading volume of $ 112 million. At the time of writing, the AVAX Trader Joe-based DEX platform is the most active MIM exchange.
While MIM’s surge is pretty impressive, it’s still not the highest. MSTables Mstable USD (MUSD), a meta-asset platform aimed at creating stronger assets, rose 379.4%. It currently has a market cap of $ 139.3 million and a trading volume of $ 2 million.
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