Summary
TLDR: The stablecoin sector in the crypto market has seen significant growth, with a surge of nearly $20 billion since the beginning of the year, reaching over $150 billion. Tether’s USDT remains the leader with a market capitalization of over $100 billion, while Circle’s USDC is also growing. New stablecoins like FDUSD and USDe are gaining traction. The increase in stablecoin supply has led to higher trading volume, with February reaching $1.09 trillion. This growth reflects optimism and increased capital infusion in the crypto market.
Key Points
1. The stablecoin supply has surged by nearly $20 billion since the beginning of the year, reaching over $150 billion, the highest level observed since November 2022.
2. Tether’s USDT remains the leading stablecoin with a market capitalization exceeding $100 billion, while Circle’s USDC is experiencing growth and expanded presence across various blockchain networks.
3. Trading volume for stablecoins saw a 5.14% increase in February, reaching $1.09 trillion, the highest volume on centralized exchanges since December 2021, with expectations for March to surpass this figure.