Stablecoin

Mountain Protocol

2024

DeFi

Coin

<p class="is-style-lead">On March 21, the market capitalization of stablecoins reached $150 billion for the first time in 18 months.</p> 
<p>According to <a href="https://crypto.news/tag/CoinGecko/">CoinGecko</a>, in addition to the growth of market capitalization to $150.5 billion, daily trading volume for the asset class approached $122 billion.</p> 
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<p>The undisputed leader in this category is Tether (<a href="https://crypto.news/price/tether/" target="_blank" rel="noreferrer noopener">USDT</a>), which has 70% dominance. The second largest stablecoin, USD Coin (<a href="https://crypto.news/price/usd-coin/" target="_blank" rel="noreferrer noopener">USDC</a>), has a market capitalization of $31.8 billion, giving <a href="https://crypto.news/tag/Circle/" target="_blank" rel="noreferrer noopener">Circle</a>‘s stablecoin a market share of over 20%. In third place is <a href="https://crypto.news/price/Dai/" target="_blank" rel="noreferrer noopener">DAI</a>, which had $4.7 billion and 3% of the market share at the time of writing.</p> 
<p> You might also like: <a href="https://crypto.news/tether-usdt-stablecoin-record/"> Tether’s USDT surpasses $100b mark, sets new stablecoin record </a> </p> 
<p>The crypto community believes that the increase in <a href="https://crypto.news/tag/stablecoin/">stablecoins</a>‘ market capitalization is an optimistic signal for further market growth.</p> 
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   <p lang="en" dir="ltr">Total Stablecoin Mcap:<br><br>Mar 21st. $147b.<br>Feb 21st. $138b.<br>Jan 21st. $133b.<br>Dec 21st. $130b.<br>Nov 21st. $127b.<br>Oct 21st. $124b.<br><br>it is impossible and stupid to not be bullish on DeFi whilst this chart is just up and to the right for the last 6 months. <a href="https://t.co/qkcERkIXi8" target="_blank">pic.twitter.com/qkcERkIXi8</a></p>— ZeroToTom (@zerototom) <a href="https://twitter.com/zerototom/status/1770794504615813352?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 21, 2024</a>
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<p>In particular, stablecoins satisfy a market need if they have such a large market capitalization.</p> 
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   <p lang="en" dir="ltr">If Stablecoins have such a large marketcap they are meeting market's need…<br><br>In my opinion, fiat stability on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> have the potential boost adoption and financial liberties around the world, and make it easier for businesses to accept BTC<a href="https://twitter.com/HRF?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@HRF</a> <a href="https://twitter.com/ck_SNARKs?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@ck_SNARKs</a> <a href="https://twitter.com/AlexLi98?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@AlexLi98</a> 👀 <a href="https://t.co/tUJ3e7sBwz" target="_blank">https://t.co/tUJ3e7sBwz</a></p>— Science Genial (@science_genial) <a href="https://twitter.com/science_genial/status/1770841194395844810?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 21, 2024</a>
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<p>Earlier in March, rating agency S&amp;P Global Ratings <a href="https://www.spglobal.com/ratings/en/products-benefits/products/stablecoin-stability-assessment" target="_blank" rel="noreferrer noopener">released</a> its ninth stability rating for the stablecoins USDC, USDT, DAI, FDUSD, FRAX, USDM, GUSD, USDP and TUSD. </p> 
<p>USDC, USDP, and GUSD were rated “strong,” while only USDM from Mountain Protocol was rated “adequate”. Stablecoins USDT, DAI, and FDUSD were called “constrained.” </p> 
<p>The highest risk and lowest valued were FRAX and TUSD. None of the listed assets received the highest score in the current ranking.</p> 
<p> You might also like: <a href="https://crypto.news/circles-ipo-to-make-waves-in-stablecoin-market/"> Circle’s IPO to make waves in stablecoin market </a> </p>

Stablecoin market capitalization sets record, surpasses $150b mark

crypto.news

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