Stablecoins are up $ 13 billion in 30 days and account for 67% of trading volume in the crypto space

In the past few weeks, most of the assets in the crypto market have fallen in value since hitting an all-time high (ATH) three months ago. Despite the drop in prices, 2021 is still a boom year for crypto returns, and fiat-linked stablecoins have also grown massively.

53 days ago, the total capitalization of stablecoins passed the $ 100 billion mark and continues to grow, up 13% since late May.

Stablecoin capitalization up 13% in 30 days

Stablecoins have continuously made a name for themselves over the past 5 years and developed dramatically. While the crypto economy has depreciated in value, stablecoin usage remains low and the market capitalization of all existing stablecoins is now $ 113 billion.

Of course, Tether (USDT) remains the largest stablecoin in terms of transaction value and volume. At the time of writing, the market cap of USDT is $ 62 billion, which is 4.94% of the total market cap in the crypto space.

Top ten stablecoins by market capitalization

Coingecko statistics show that USDT is $ 43.5 billion of the total trade value in the crypto market, but Messari.io’s data shows that the real volume is around $ 12.51 billion. In any case, USDT still has more trading volume than Bitcoin and Ether combined.

In addition, most of the Bitcoin and Ether transactions are exchanged for USDT as Bitcoin statistics show USDT represents 62.48% of the Bitcoin trading market share and 51.4% of the Ether transactions today. The stablecoin BUSD issued by Binance accounts for 4.61% of Bitcoin trading and is just behind the USD as the third largest trading pair of Bitcoin, according to Cryptocompare.com data.

USDT grew exponentially from July 2020 to June 2021 as USDT issuance slowed to $ 61.7 billion. The USD-Coin (USDC) increased its market capitalization from $ 22 billion in early June to $ 26.5 billion in mid-July.

The 6 fastest growing stablecoins

In early June, the value of the BUSD rose from $ 8.72 billion to $ 11.25 billion. In fact, most of the stablecoin growth over the past 30 days can be attributed to non-tether stablecoins such as USDC, BUSD, DAI, PAX, TUSD, HUSD, GUSD, and LUSD.

Stablecoin market capitalization

Of all known stablecoins, GUSD had the largest 30-day growth, reaching 56.7%, and Synthetix.io’s SUSD grew 37.7% last month.

BUSD and USDC are both up double digits, + 18.9% and + 10.7% in 30 days, respectively. Three lesser-known stablecoins whose supply has also risen sharply are the Defi-Dollar (DUSD), which rose 257.5 percent last month, followed by Empty Set Dollar (ESD) + 129% and Frax (FRAX) + 98%. .

Statistics from Coingecko show that dozens of existing stablecoins account for $ 49.5 billion of the transaction value of $ 82.9 billion across the crypto space.

Mr. Teacher

According to News.Bitcoin

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