News Formal

Stablecoins are growing by dollar value but not as a share of the wider crypto market, JPMorgan says

  • 📰 CNBC
  • ⏱ Reading Time:
  • 6 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 72%

Cryptocurrency News

Investment Strategy,Breaking News: Investing,Markets

The market cap for stablecoins has risen by about $3 billion this month and $34 billion, or 26%, this year, according to CryptoQuant.

The market cap for stablecoins has been growing this year, which should be a good sign for the entire cryptocurrency market. The group is up by about $3 billion this month and has grown $34 billion, or 26%, this year, according to CryptoQuant. The total value is currently about $163 billion, approaching a 2022 peak of $180 billion – which it reached before the collapse of the TerraUSD stablecoin and the network's native Luna token.

Crypto has run out of steam and bitcoin's path of least resistance is to the downside, says Wolfe Research

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stablecoins Signal Crypto Ecosystem Buoyancy as Market Cap Jumps to $164BOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Source: CoinDesk - 🏆 291. / 63 Read more »