The last week in November saw the stablecoin industry surpass the $150 billion mark. Usd coin and tether dominated the market. The stablecoin economy gained $11 billion more in just ten days. This was despite the origin dollar and Terra USD gaining significant value over the past 30 days.
Fiat-Pegged token Economy to be worth $11 Billion
Stablecoins, whether you like them or hate them, are a key part of crypto industry. In ten days’ time, the entire stablecoin economy has grown 7.33% larger from $150 billion to today’s $161.2 billion.
Stablecoin markets continue to grow month after month. The token tether USDT is currently the most valuable stablecoin by market value. According to statistics, USDT’s market value is approximately $77.3 billion. Its market capital grew 6.1% in the past month.
USDC (Usd coin) is today’s second largest stablecoin with an estimated market value of $41 billion. USDC’s market cap grew by a sizable 19.5% during the last 30 days. USDT combined makes up 4.75% for the crypto economy.
The stablecoin economy is dominated by USDT and USDC, which command 73.21% each of $161 billion worth of fiat-pegged tokens. USDC is the largest stablecoin trade volume and captures the majority of the volume.
Terra and Origin Stablecoin Have Announced Balloons for the Month of September
Terra’s stablecoin UST has seen the largest increase in the top ten stablecoin markets during the last 30 days, with its market cap growing by 190%. A month ago, Terra’s UST market cap was only $2.88 billion.
Today, the algorithmic stablecoin UST is valued at around $8.3 trillion and has $178 million of global trade volume. UST’s market capitalization is just below DAI’s $8.95 billion valuation. The Terra-issued algorithmic stablecoin is also above Abracadabra.money’s magic internet money (MIM) and its $3.7 billion market.
Origin Protocol (OGN), which issues yield-earning stablecoins origin dollars (OUSD), saw a 721% increase in its value over the past thirty days. OUSD currently has a market capitalization of approximately $2266.5million and a trade volume of $2.7 million. Today, the stablecoin is valued at $1526.5 million.
The following stablecoins also saw noteworthy 30-day moves: frax, pax dollars, and liquity USD. Not only did fiat-pegged tokens linked to USD’s value see significant 30 day growth, but a number of stablecoins built on other fiat currencies such as the euro and Turkish lire also saw substantial 30-day increases.
How do you feel about the stabilitycoin economy in the past ten days, UST growth and OUSD growth over the month? Comment below and let us know how you feel about the subject.
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