Stablecoins Hit Record $190B Market Cap as Tether's USDT, Circle's USDC Grow Over 10%: CCData

📆 2024/11/27 22:36:00
📰 CoinDesk

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Demand for stablecoins soared as investors poured capital into crypto assets after Donald Trump's election victory, expecting that the new U.S. government will be friendlier towards digital assets.

Stablecoin market capitalization rose to $190 billion this month, surpassing the pre-crypto winter peak of April 2022, CCData reported.

The emergence of novel tokenized investment products with fixed prices such as BlackRock's BUIDL and Ethena's USDe also helped growth for the sector.

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