Stablecoin market hits new peak at $310.117 billion
The post Stablecoin market hits new peak at $310.117 billion appeared on BitcoinEthereumNews.com.
The stablecoin market has clocked a new market cap record of $310.117 billion on Saturday, December 13. At the time of writing, the market cap of stable cryptocurrencies is hovering around $309.911 billion, based on data obtained from DeFiLlama. Tether’s USDT remains the largest stablecoin with a market cap of $186.242 billion and a dominance of 60.10%. Circle’s USDC is in second place with a market cap of $78.315 billion and a dominance of around 25%. Stablecoins market cap. Source: DeFiLlama. Stablecoin market continues to grow rapidly The stablecoins sector has been growing massively. In the past 12 months, stablecoins grew by 52.1%, from $203.728 billion to $309.911 billion. During the October market crash, stablecoins maintained a growth trend. In November 2024, the market cap of stablecoins dropped to $302.837 billion, but it bounced back to record a new peak of $310.117 billion yesterday. In the past seven days, Tether’s USDT rose by 0.32%, adding $593.34 million to its circulation. The newly minted coins were added to multiple networks, including Tron, Solana, Arbitrum, Aptos, and Polygon. Circle’s USDC jumped by 0.71%, adding $555.56 million worth of coins to Ethereum, Solana, Hyperliquid, Base, and BSC. Sky’s USDS, PayPal’s PYUSD, and World Liberty Financial’s USD1 minted new coins during the same timeframe. Beyond the top ten coins, Tron’s USDD rose by 23.46%, while crvUSD jumped by 28.92%. Overall, the stablecoins sector gained 0.57%, with a total addition of $1.79 billion. But not all stablecoins were in the green. BlackRock’s BUIDL dropped by 13.24%, and its market cap is standing at $1.321 billion. Yield-bearing stablecoins keep declining Ethena’s stablecoins stayed in the red. USDe dropped by 2.98% this week, and USDtb posted a sharper 18.99% drop. USDe has a market cap of $6.525 billion, while USDtb sits at about $850.8 million. Most yield-bearing…
