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<p>The latest data discloses that the market capitalization of the <a href="https://blockchainreporter.net/glossary/stablecoin/" rel="noopener noreferrer nofollow">stablecoin</a> sector has increased to a great extent. CryptoQuant, a prominent crypto analytics firm, has disclosed the jump in the market cap of stablecoins to $165B, indicating the highest-ever spot. The analytics company took to its official social media account to provide details about the current status of the stablecoin sector.</p><h2 id="header-0">Stablecoin Sector’s Market Capitalization Reaches $165 Billion</h2><p>In its new X post, <a href="https://cryptoquant.com/" rel="noopener noreferrer nofollow">CryptoQuant</a> noted that the achievement of touching $165B in market capitalization sets a new record. In other words, USDT now dominates 5.72% market. As per the platform, this indicates the growing importance of stablecoins and their impact on the wider crypto ecosystem. In their nature, stablecoins serve as crypto assets that focus on maintaining a stable value. For this purpose, they are pegged to some reserve asset like the US dollar.</p><p>In addition to this, some stablecoin issuers also utilize algorithm mechanisms to achieve that stability in terms of value. Stablecoins often operate as an exchange medium, a hedge against volatility, and a store of value. The swift expansion of the stablecoin market capitalization mirrors an increasing demand for liquidity and stability.</p><p>The jump in the market capitalization of these assets goes beyond only a statistical landmark. It has crucial implications in the case of the wider crypto market, including <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> and the rest of top crypto assets. Historically, a jump in the stablecoin market capitalization has most of the time been linked to a subsequent spike in crypto prices.</p><h2 id="header-1">Stablecoin Market Dominance Dips from 17.3% to Only 7.4% After 2022</h2><p>On the other hand, &#96;the overall market dominance of stablecoins has gone through a significant dip. Since 2022, the market dominance of stablecoins has plunged from 17.3% to just 7.4%. Irrespective of this slump, there are 117B USDT tokens in circulation.</p>

Stablecoin Market Cap Hits the Highest Spot at $165B

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