2 November 2024
The Top Ten Stablecoins Issuance Surged Last Year.
Currently, Stablecoins represents 9.77% of the $1.8 trillion Crypto-economy which is $177 billion in USD value. Last year, many Crypto assets surged in prices, and so does stablecoins. The market of stablecoins increased in valuations as issuance grew month after month.
Tether (USDT) is the leading stablecoin in terms of market capitalization with $78.3 billion. It alone holds 4.32% of the entire Crypto economy’s $1.8 trillion, and in $177 billion stablecoin economies, it covers 44.24%.
On January 2, 2021, Tether had a market cap of around $21.2 billion, and it grew by 269.81% to $78.4 billion on January 2, 2022. While Usd coin (USDC) had a market cap of $4.1 billion on January 1, 2021, it grew by 936.58% to $42.5 billion a year later.
Binance USD (BUSD) is the third-largest stablecoin with a market valuation of around $1.07 billion on 1st January 2021, and it surged by 1,245.79% to $14.4 billion on 1st January 2022.
Terra’s UST stablecoin also witnessed a growth of 5,431.22% in a year from $182.6 million on January 1, 2021, to $10.1 billion on the same day in 2022. Makerdao’s DAI soared by 641.66%, from $1.2 billion on January 1, 2021, to $8.9 billion by January 1, 2022.
The four months old coin Magic internet money (MIM) grew by 422.18% to $4.59 billion by January 1, 2022.
The seventh-largest stablecoin frax (FRAX) recorded a $71 million market cap on January 1, 2021, and on the same day in 2022, it was $1.8 billion. In just 12 months, it grew by 2,435.21%. Another stablecoin trueusd (TUSD) recorded a growth of 322.54% between January 1, 2021, to January 1 of this year.
Pax dollar (USDP) is the ninth-largest stablecoin with a market valuation of $1 billion. It grew by 189.02% from $346 million on January 1, 2021.
The last stablecoin, fei USD (FEI), grew within 301 days to $2.3 billion on April 4, 2021, but it dropped during the 12 months by 66.08% to $780 million.
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