Stablecoins Swells $ 13B in 30 days, captures 67 percent of Crypto trade

• In the crypto market over the previous five years, stablecoins have made their mark
• USD is the biggest stablecoin in terms of market value and the number of transactions processed daily by the Stablecoin network
• From July 2020 until June 2021, Tether was increasing tremendously when Tethers began to fall by 61.7 billion dollars

Cryptocurrency markets have lost value in recent weeks, despite the fact that most of these assets reached all-time highs three months ago. Despite the price declines, 2021 has been a record-breaking year for crypto gains, and fiat-pegged stablecoins have exploded in popularity. The total market capitalization of fiat stablecoins surpassed $100 billion 53 days ago, and the stablecoin market valuation has increased by 13% since the end of May. Tether’s value grew at an exponential rate from July 2020 until June 2021, when it began to decelerate at $61.7 billion. The market capitalization of the USD coin (USDC) increased from $22 billion in early June to $26.5 billion in mid-July.

Tether Issuance Slows as Stablecoin Market Value Increases by 13% in 30 Days

Stablecoins have earned a name for themselves in the crypto industry during the last five years, as the value of these fiat-pegged currencies has skyrocketed. While the value of digital currencies has fallen, the use of stablecoins has remained brisk, with the total market valuation of all stablecoins now standing at $113 billion. Tether (USDT) is, without a doubt, the largest stablecoin in terms of market capitalization and daily transactions processed by the stablecoin network. Tether (USDT) has a market capitalization of $62 billion at the time of writing, accounting for 4.94 percent of the total market capitalization of all crypto assets in existence.

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On Friday, according to Coingecko statistics, tether had $43.5 billion in global swaps, however, messari.io data suggests true activity was roughly $12.51 billion. Tether has more volume than the BTC and ETH markets combined, regardless of how you look at it.

Furthermore, according to BTC data, the majority of BTC and ETH deals are swapped for tether (USDT), with USDT accounting for 62.48 percent of all exchanges immediately. According to cryptocompare.com, the Binance stablecoin BUSD absorbs 4.61 percent of bitcoin (BTC) exchanges and is barely below the US dollar as BTC’s third-largest buying and selling pair.

Tether’s value grew at an exponential rate from July 2020 until June 2021, when it began to decelerate at $61.7 billion. The market capitalization of the USD coin (USDC) increased from $22 billion in early June to $26.5 billion in mid-July.

Last month, six stablecoins saw double-digit and triple-digit growth

The Binance stablecoin BUSD increased from $8.72 billion to $11.25 billion in value at the beginning of June. Non-tether stablecoins including USDC, BUSD, DAI, PAX, TUSD, HUSD, GUSD, and LUSD are responsible for the majority of the last 30 days of stablecoin development. 

GUSD, the most well-known fiat-pegged token, grew the most in 30 days, gaining 56.7 percent, followed by the synthetix. In the last month, the io stablecoin SUSD has grown by 37.7%. In 30 days, the BUSD increased by double digits, rising 18.9%, while the USD coin (USDC) increased by 10.7%. 
The quantity of three relatively obscure stablecoins increased dramatically. Last month, the stablecoin defi dollar (DUSD) grew by 257.5 percent, followed by empty set dollar (ESD), which grew by 129 percent, and frax (FRAX), which grew by over 98 percent. Statistics from Coingecko present that mixed, the handfuls of stablecoins in existence immediately command $49.5 billion out of Friday’s $82.9 billion in crypto trades worldwide.