Stablecoin Supply Attains 2X in 90 Days ago, and there are about $20B Worth in Circulation

News • 2020/10/08 • by

In the last three months, the demand for stable coins has increased drastically. There are about $20B worth in circulation, with Tether currently dominating the stablecoin market.

However, USDC is on its way to being the biggest and getting more trade amounts over bitcoin. USDC is a stablecoin with massive market capitalization aside from Tether. The amount of money coming into stablecoin in amazingly high. Lately, stablecoin tokens achieved about $20 billion.

Trade activities with Stablecoin are worth more than $25 billion based on Coingecko's stablecoin index. This also made it clear that the token pegged with fiat is just underwater. As at the time of writing, 28 stablecoin are tagged with international currencies like the USD.

Status Euro is not a USD stable, but it makes the list of top tokens for stablecoins. This non-USD is the 9th on the list; it makes over $550k within a day, alongside $37 million in circulation.

Source: Bitcoin.com.

Comments (6)

Guest

godgrace1

6 years ago

Stable coins are coins to invest in when fighting inflation, which i believe that is the reason for the 2x surge in it

freshprinx

6 years ago

People are going to stable coins so that they can have a safe investment

exodusab

6 years ago

I think this year quite a bit of money has flown into the stablecoin economy and just recently all the stablecoin tokens in existence captured a $20 billion market valuation. This means all the fiat-pegged tokens are worth more than 6% of the aggregate $328 billion market capitalization. The combined stablecoin dominance is much larger than most of the top virtual currency valuations and tether (USDT) captures over 4% of the cumulative total. Just recently, news.Bitcoin.com reported on how USDT’s market dominance has slid below 80% for the first time this year.

omogbai

6 years ago

fluctuation in the market make people to aquire more USDT so as to retain the initial value.

etunaminta

6 years ago

need stable coins to investment :"

visiblemoney

6 years ago

Not only the 2X surge is vital news but competition among the stablecoin family is a welcome initiative. Investors would now have choice on the type of stablecoin that is good for them to invest on. Those who are in European Economic Area can at least decide between Statis Euro and other forms of stablecoin as convenient for them. Variety is the spice of life and competition makes life a race! Someday, we might likely have Yuan stablecoin to further increase Trade war in the cryptosphere 😁😂😂😂. All said and good! Patronage for stablecoin might witness 3X in the next couple of months to as long as volatility is still put to check at ratio 1:1 especially when it more in favour of stablecoin.