Total Stablecoins Market Cap is Almost 15% of the Whole Cryptocurrencies Ecosystem Market Value

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stablecoin-market

The stablecoin economy was valued at $190 billion on April 11, around two months ago, and was on its way to topping $200 billion. However, the fiat-pegged token economy has lost $16.31 billion in value since the Terra stablecoin debacle. While that value was removed from the stablecoin market, stablecoins nevertheless accounted for 9.35 percent of the total crypto economy’s net US dollar worth at the time. After 61 days, the crypto economy is valued around $1.15 trillion, with stablecoins accounting for 13.8 percent of that total.

In 61 Days, Stablecoin Dominance Swelled From 9% to 13.8%

For the first time in history, three stablecoins were top ten digital currencies in terms of market valuation 36 days ago on May 6, 2022. At the time, it was tether (USDT), usd coin (USDC) and terrausd (UST), but that was before the UST implosion.

While terrausd is gone, there’s still three stablecoins in the top ten today, as binance usd (BUSD) is the seventh-largest crypto asset as far as market cap is concerned. Two months ago on April 11, the stablecoin economy was valued at $190 billion but today, the valuation of the stablecoin market is now $159 billion.

Stablecoin Market Nears 15% of the Entire Crypto Economy's Market Valuation
On 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.

Stablecoin Market Nears 15% of the Entire Crypto Economy's Market Valuation
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 also account for a significant amount of trade volume; at the time of writing, fiat-pegged tokens had $46.1 billion in trade volume, compared to $71.6 billion for all crypto assets combined. According to the data, stablecoin pairs account for 64.38 percent of all digital currency exchanges today.

For instance, tether (USDT) trades account for 60.26% of bitcoin’s (BTC) global trade volume while BUSD commands 10.05%. USDT and BUSD are BTC’s top two trading pairs at the time of writing, according to cryptocompare.com metrics.

Tether (USDT) is still the king of stablecoins with an $72 billion market valuation that represents more than 6% of the entire crypto economy. Usd coin (USDC) is the second-largest stablecoin by market cap with $53.7 billion in value.

USDC dominates today by more than 4% of the crypto economy and combined both USDC and USDT make up 76.92% of the entire stablecoin dominance of 13.40%. BUSD meanwhile, represents 1.58% of the entire crypto economy. That leaves a little more than 1% of the crypto economy that stem from stablecoins like DAI, FRAX, TUSD, and USDP.

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