USDT and USDC Boost Stablecoin Market by $1.52 Billion in Just 7 Days
The stablecoin market surged by $1.52 billion over the past week. Reaching a total market capitalization of $164.68 billion.
This growth was mainly driven by Tether (USDT). Which saw its supply increase by $1.2 billion, raising its market valuation from $112.99 billion to $114.19 billion. Circle’s USD Coin (USDC) also contributed with a $300 million increase in its market cap, climbing from $33.81 billion to $34.11 billion.
As of July 24, stablecoins represented 69% of the day’s $80.20 billion trading volume. With USDT and USDC dominating the transfer volume.
Clever Robot News Desk 28th July 2024
