Sunday, June 16, 2024

Issuance of stablecoins increased dramatically last year.

Stablecoin growth has hit a new high growing in volume in 2021 to a volume of $177 billion. Market share for the top ten stablecoins has grown exponentially. Of these, Terra’s UST saw the biggest growth jump – over 5400% in 2021 alone.

According to some reports, stable coins now have a market share of close to 9.8% of the crypto currency market, whose value is more than $1.8 trillion USD. Stablecoins represent a value of $175+ billion dollars. Stablecoins kept pace with other digital assets in growth.

An overview of top stablecoins and their growth

Of the stable coins in circulation, Tether (USDT) is at the top of the stablecoin heap with its value at more than $78 billion. Its market share percentage of the total crypto market is 4.32% and 44.2% of the stablecoin sector.

Consider these statistics – January 2, 2021, Tether’s market cap is $21.2 billion. Exactly a year and a day later, January 2, 2022, market cap figures stand at $78.4 billion – a staggering growth rate of close to 270%. Compare the growth of USDC or USD coin – January 1st 2021 market value is $4.1 billion and a year later, $42.5 billion, growth rate – 936%.

Binance’s stablecoin BUSD grew an astonishing 1300% in 12 months. Market cap figures in 2021 – $1 billion and $14 billion in 2021.

Stablecoin FRAX, valued at $71 million in January 2021 and a year later in 2022, valued at $1.8 billion. Growth rate is 2435% in 12 months.

The introduction and growth of stablecoins is definitely a good thing for investors. Free market growth has kicked into high gear to the extent that even central banks are introducing their versions of cryptocurrencies.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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