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

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. Numerous stablecoins issued more assets in the last seven days as top-dollar-pegged coins increased their value by over 20%.

Steadycoin Economy Grows

Stablecoins continue to be issued despite the fact that cryptocurrencies are losing value over the past two weeks. The crypto economy has fallen below $2 trillion. As of the writing date, $185 billion is the total value for the stablecoin industry. It has grown by 9.92% from December 30, 2021. Current value of all stablecoins is 10.41%. 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.

Tether (USDT), the world’s largest stablecoin in terms of market capitalization has only seen a 1.3% increase in its cap to $79.6 billion dollars this week. On the other hand, 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 DAI spiked by 6.1%. In the past seven days, Avalanche’s magic internet money (MIM), which is based on Avalanche, saw its market capitalization drop by an incredible 40.6%.

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

FRAX (FRAX), along with the other top stablecoins, has had its market caps drop. FRAX saw a 2.6% increase in value this week. It now stands at $2.66 trillion. USDT, which is the largest stablecoin, has a market capital of $80 billion. USDC, which was just over $50 billion, recently surpassed the mark. The Binance Smart Chain stablecoin asset BUSD, which is currently valued at $18.3billion, is slowly approaching the $20 Billion mark.

BUSD, USDC and USDC were the top two stablecoin gains this week. But gemini dollars (GUSD) experienced a 50% increase. A stablecoin named bean (BEAN), saw its valuation rise by 30.8%. Furthermore, due to this week’s increase, BUSD has 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. This means that out of all the stablecoins in existence today, USDT’s massive trade volume represents 84.84% of the aggregate stablecoin trades on Tuesday.

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 joined the cryptocurrency community in 2011 and has been actively involved since then. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.