Stablecoin Market Nears 15% of the Entire Crypto Economy's Market Valuation – Altcoins Bitcoin News

While terrausd is gone, there’s still three stablecoins in the top ten today, as binance usd is the seventh-largest crypto asset as far as market cap is concerned. Two months ago on April 11, the stablecoin economy wasOn May 6, just before UST de-pegged from the $1 parity, tether, usd coin, and terrausd were the top three stablecoins in the top ten largest market cap coins. Today, with UST gone, BUSD has entered the top ten standings.

On that day in April, the entire crypto economy was valued at $2.03 trillion and today it’s worth roughly $1.15 trillion. Even though Terra’s UST fallout saw billions leave the stablecoin economy, it dominates by a lot more than it did when it was nearing $200 billion. On April 11, 2022, the $190 billion stablecoin market cap equated to 9.3% of the entire crypto economy’s $2.03 trillion. Today, at $159 billion, the stablecoin economy is now 13.8% of the aggregate value of $1.15 trillion.

Stablecoins account for whole lot of trade volume as well, and at the time of writing, fiat-pegged tokens have seen $46.1 billion in trade volume, while all the crypto assets combined saw $71.6 billion. The data shows that 64.38% of all the digital currency trades today are swapped against stablecoin pairs.

That's not cool

That is not a surprise really. I mean tether is used by so many people.

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I'd reckon we'll pierce through 1T and rebound off of, say, 850M? Let's see! bearmarket

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