bitcoin
Bitcoin (BTC) $ 62,429.73
ethereum
Ethereum (ETH) $ 3,035.40
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 543.22
xrp
XRP (XRP) $ 0.494707
cardano
Cardano (ADA) $ 0.447425
usd-coin
USDC (USDC) $ 1.00
matic-network
Polygon (MATIC) $ 0.675697
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.147722
okb
OKB (OKB) $ 55.20
polkadot
Polkadot (DOT) $ 6.64
shiba-inu
Shiba Inu (SHIB) $ 0.000022
tron
TRON (TRX) $ 0.108461
uniswap
Uniswap (UNI) $ 7.07
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 62,321.70
dai
Dai (DAI) $ 1.00
litecoin
Litecoin (LTC) $ 81.00
staked-ether
Lido Staked Ether (STETH) $ 3,030.16
solana
Solana (SOL) $ 134.08
avalanche-2
Avalanche (AVAX) $ 34.39
chainlink
Chainlink (LINK) $ 13.30
cosmos
Cosmos Hub (ATOM) $ 8.12
the-open-network
Toncoin (TON) $ 6.14
ethereum-classic
Ethereum Classic (ETC) $ 25.75
leo-token
LEO Token (LEO) $ 5.87
filecoin
Filecoin (FIL) $ 5.89
bitcoin-cash
Bitcoin Cash (BCH) $ 480.13
monero
Monero (XMR) $ 114.15
bitcoin
Bitcoin (BTC) $ 62,429.73
ethereum
Ethereum (ETH) $ 3,035.40
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 543.22
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.494707
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.147722
cardano
Cardano (ADA) $ 0.447425
solana
Solana (SOL) $ 134.08
matic-network
Polygon (MATIC) $ 0.675697
polkadot
Polkadot (DOT) $ 6.64
tron
TRON (TRX) $ 0.108461

Stablecoin Market Swells With Development in March, Led by Ethena’s USDE

Must Read

This month we’ve got witnessed a steady enlargement within the stablecoin area, eclipsing the $150 billion mark on March 20, 2024, with an infusion of an extra $1.4 billion into the world since then. Main the pack in provide development for March was Ethena’s USDE, hovering by 194.9% during the last 30 days.

Prime Greenback-Pegged Token Valuations Climb in March; Key Gamers Shift Floor

Because the cryptocurrency market rides a bullish wave, the stablecoin sector has skilled constant month-to-month development all year long. The tally for March displays this pattern, with the marketplace for U.S. dollar-pegged digital currencies growing from $143.3 billion to $151.4 billion. Though sure stablecoins witnessed a dip of their provides, the full market capitalization of the stablecoin ecosystem superior by greater than $8 billion. Tether (USDT), the heavyweight within the stablecoin class, skilled a 6.3% development in provide this month.

Tether’s market valuation now stands at roughly $104.5 billion. Circle’s USDC skilled a notable enlargement in its provide this month, climbing by 13.1% to achieve a present market capitalization of $32.46 billion. Basically, USDC has returned to its place from a yr in the past, after its provide dipped under 24 billion in mid-November 2023. Only a month prior, USDC boasted a market cap of $28.7 billion. Makerdao’s DAI witnessed a slight lower in provide by 1.7%, now valued at roughly $4.9 billion.

Ethena USDE’s market valuation development during the last 90 days.

First Digital’s FDUSD encountered the steepest decline among the many high 5, shedding 22.1% of its provide over the previous month. Following this decline, FDUSD’s market valuation now hovers at $2.56 billion. In distinction, Ethena’s USDE skilled a considerable enlargement, with its provide ballooning by 194.9% in March, elevating its market valuation to $1.53 billion. Tron’s USDD noticed a slight lower of 0.8% this month, with the coin’s present market cap at about $732.4 million. Frax’s FRAX noticed a marginal enhance in provide by 0.1%. Trueusd confronted a big contraction in March, with the TUSD provide plummeting by 60.1% to $494 million.

See also  Arbitrum group argues for memecoins over DeFi in $3.3 million DAO fund proposal

In response to historic knowledge, TUSD’s provide has not been as low since April 2021. Paypal’s PYUSD skilled a tough March, declining by 38.2% over the month, bringing its market valuation to roughly $188.4 million. Slightly below PYUSD, Alchemix’s ALUSD noticed a modest provide enhance of 1.2% this previous month. Because the tenth largest stablecoin by market cap, ALUSD now stands at a $166.6 million valuation. Different USD-backed stablecoins comparable to CRVUSD, USDP, and GUSD additionally confronted declines, dropping round 4.2%, 28.9%, and 9.8% respectively.

What do you concentrate on the stablecoin financial system’s development over the previous month? Share your ideas and opinions about this topic within the feedback part under.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Charles Hoskinson Celebrates Cardano’s (ADA) Insane Blockchain Efficiency

Cardano, famend for its progressive Prolonged Unspent Transaction Output (EUTXO) mannequin, has as soon as once more demonstrated its...

More Articles Like This