Stablecoin market dips $37 million as USDT nears $150 billion
The stablecoin market experienced a marginal decline of $36.95 million over the past week, representing a 0.02% contraction, according to data from Defillama.com.
The total stablecoin market capitalisation now stands at $242.97 billion.
Tether (CRYPTO:USDT), the largest stablecoin by market cap, maintained its leading position with a valuation of $149.87 billion, posting a modest 0.36% gain over seven days.
USDT accounts for approximately 61% of the total stablecoin market.
In contrast, USD Coin (CRYPTO:USDC) saw a 1.21% decline during the same period, settling at a market cap of $60.808 billion.
DAI (CRYPTO:DAI) registered a notable weekly increase of 6.39%, bringing its market cap to $4.372 billion.
BlackRock’s BUIDL token also showed gains, rising 1.33% over the week to reach a market cap of $2.897 billion, leading monthly growth with a 26.14% increase.
On the downside, Sky Dollar (USDS) experienced a 5.5% decrease in market cap, while Ethena’s USDe (CRYPTO:USDE) declined by 0.56%.
These declines contributed to the overall slight contraction in the fiat-pegged crypto sector.
The mixed performance among stablecoins reflects varying investor sentiment and growing competition within the stablecoin ecosystem.
As Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), and other altcoins posted strong gains, investor appetite shifted toward risk-on crypto assets.
This shift has led to a slight reduction in stablecoin exposure as traders reallocate capital into appreciating tokens.
The stablecoin sector’s resilience amid minor contraction suggests ongoing demand for fiat-pegged assets alongside broader market dynamics.
At the time of reporting, the Tether (USDT) price was $1.00.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ambition under $2 billion: Mastercard acquires Zerohash, aiming to reshape the underlying logic of global payments
Mastercard plans to acquire the crypto infrastructure company Zerohash for $1.5 to $2 billions to strengthen its stablecoin strategy. Previously, it had bid for BVNK but was outpaced by Coinbase. The stablecoin sector continues to grow in popularity, with major companies accelerating the acquisition of related startups. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved.
Rate cuts ≠ bull market, the market is not buying it this time
Ripple’s Trust Bank Review Nears Finish Boosting XRP Sentiment
Quick Take Summary is AI generated, newsroom reviewed. The conclusion of the 120-day OCC review for Ripple National Trust Bank is set for October 30. Approval could allow Ripple to manage digital assets under a national banking license and integrate its blockchain with the U.S. financial system. Ripple's strong compliance and utility-based approach, including its RLUSD stablecoin, may fast-track the approval process. The potential bank approval is seen by investors as a major validation of Ripple's long-te
Whoever can help the US reduce its debt with cryptocurrency will become Powell's successor.
The article explores the true motivation behind the change in the Federal Reserve chair, pointing out that the core issue is the massive U.S. national debt and fiscal deficit, rather than inflation. Trump has hinted at the possibility of using cryptocurrencies to address the debt problem, and the next chair may promote the integration of digital assets as national financial tools. Summary generated by Mars AI. The accuracy and completeness of this summary, generated by the Mars AI model, are still in the process of iterative improvement.
Trending news
MoreCrypto prices
More
