{"id":159095,"date":"2023-12-21T13:07:53","date_gmt":"2023-12-21T13:07:53","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=159095"},"modified":"2023-12-21T13:07:55","modified_gmt":"2023-12-21T13:07:55","slug":"stablecoin-market-reaches-highest-capitalization-since-may","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/stablecoin-market-reaches-highest-capitalization-since-may\/","title":{"rendered":"Stablecoin Market Reaches Highest Capitalization Since May"},"content":{"rendered":"
The stablecoin<\/a> market has witnessed a significant surge, reaching its highest capitalization since May 2023, according to the latest report<\/a> from CCData.<\/strong> This milestone underscores the growing influence and adoption of stablecoins in the global cryptocurrency market.<\/span><\/p>\n The total market capitalization of stablecoins has been on a steady rise, demonstrating the increasing demand for these digital assets<\/strong>. Stablecoins, known for their price stability as they are pegged to a reserve of assets, have become a popular choice among investors looking for a safe haven in the volatile crypto market.<\/span><\/p>\n Tether (USDT), the largest stablecoin by market cap, has been leading the pack. The CCData report highlighted that USDT reached an all-time high market cap, further cementing its dominance in the stablecoin market. This growth can be attributed to the increasing use of USDT in transactions and its widespread acceptance on various crypto exchanges.<\/span><\/p>\n The total market capitalization of stablecoins saw a significant growth of 3.43% in November, reaching a new high of $128 billion.<\/strong> This surge represents the most substantial monthly supply increase since February 2022. As we moved into December, specifically by the 18th, the market cap experienced a slight uptick of 0.17%, bringing the total to $129 billion. <\/span><\/p>\n Despite this growth, the dominance of the stablecoin market cap reduced to 8.07% in December, marking the lowest level since December 2021. <\/span>In December, FDUSD rose to prominence, experiencing a substantial increase of 92.6% in its market capitalization, which reached a value of $1.63 billion as of December 18th. <\/strong><\/p>\nStablecoins: The New Safe Haven for Crypto Investors<\/span><\/h2>\n
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