$11 Billion Added to Stablecoin Economy in 10 Days, UST and OUSD Issuance Swells
The stablecoin economy surpassed the $150 billion thresholds for the first time in November, with tether and USD coin ruling the pack. The stablecoin economy gained another $11 billion in value in only 10 days, with the origin dollar and terra USD both increasing dramatically in value over the previous 30 days.
Whether people like them or not, stablecoins are an important element of the crypto economy. The total stablecoin economy has expanded 7.33 percent in 10 days, from $150 billion to $161.2 billion today.
Stablecoin marketplaces have grown in size month after month, and the token tether (USDT) is the most valuable stablecoin in terms of market capitalization. USDT has a market capitalization of roughly $77.3 billion, according to statistics, and its market cap increased by 6.1 percent in the previous month.
With a market cap of over $41 billion, the USD coin (USDC) is the second-largest stablecoin today. The market capitalization of USDC increased by 19.5 percent in the previous 30 days. USDT and USDC together account for 4.75 percent of the whole crypto economy.
The two stablecoins USDT and USDC control 73.21 percent of the total $161 billion in fiat-pegged tokens in the stablecoin market. While tether is the most popular stablecoin, USDC is the third most popular stable coin after BUSD.
Issuance Balloons for Terra and Origin Stablecoins
Terra’s stablecoin UST has had the greatest gain in market value among the top 10 stablecoin markets in the previous 30 days, with a market cap increase of 190 percent. Terra’s UST market cap was barely $2.88 billion a month ago.
Today, the algorithmic stablecoin UST is valued at roughly $8.3 billion, with a worldwide transaction volume of $178 million. The market capitalization of UST is barely below that of DAI, which is valued at $8.95 billion. Abracadabra. money’s magic internet money (MIM) and its $3.7 billion market cap are also ahead of Terra’s algorithmic stablecoin.
Origin Protocol (OGN) created the yield-earning stablecoin origin dollar (OUSD), which has increased by 721 percent in the previous 30 days. OUSD has a market capitalization of roughly $226.5 million and a transaction volume of $2.7 million. Today, the stablecoin is the 15th most valuable dollar-pegged digital currency.
Frax, pax dollar, and liquidity USD are three more stablecoins that have shown significant 30-day change. A flurry of stablecoins based on other fiat currencies, such as the euro and Turkish lira, have shown a strong 30-day increase in addition to fiat-pegged tokens related to the value of USD.