Expanding Crypto Market Caps by 500% to 1,300%: Stablecoin Issuance Saw Significant Growth Last Year
The stablecoin issued by Binance only had a $1 billion market cap a year ago and now it’s $14 billion, increasing 1,300% this past year. Terra’s stablecoin UST had a market valuation of $138 million on January 11, 2021, and today the market cap is $10.5 billion.Makerdao’s DAI token went from $1.3 billion to today’s $9 billion as it grew 592.30% over the last year.
The value of all the stablecoins in existence today represents 8.24% of the entire crypto-economy. Stablecoin trade volume today accounts for more than 61% of global trade volume across 12,000+ crypto assets.
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This is exactly why governments are looking into CBDCs.
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Stablecoins are trend now? Glad to hear it since I use USDT.