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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    What Is Fully Diluted Valuation (FDV) in Crypto?

    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

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    Key Innovations, Challenges, and What Comes Next

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi
  • Web 3
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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Ethereum Token Platform Zora Sues Deloitte Over AI Trademark Dispute

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    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

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    Binance, Cristiano Ronaldo Introduce Sixth NFT Drop

    Elite Footballers Named in $3.4 Million Crypto Fraud Case

    Elite Footballers Named in $3.4 Million Crypto Fraud Case

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    First Force set to make Telegram debut with one of the largest NFT drops on TON

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    TON is becoming one of the top chains for NFT activity

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    NFT market makes a modest comeback as Bitcoin hits $105k level

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    Song A Day creator recounts ‘tax nightmare’ after making millions from NFT sale

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    FIFA Rivals Mobile Game Debuts Worldwide with PvP Action and Digital Ownership

    ‘FIFA Rivals’ Launches—Why Mythical Games Thinks It’ll Hit Bigger Than ‘NFL Rivals’

    ‘FIFA Rivals’ Launches—Why Mythical Games Thinks It’ll Hit Bigger Than ‘NFL Rivals’

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    Off The Grid active wallets hold steady ahead of Steam launch

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    Tencent exploring $15B Nexon acquisition, a gaming firm with Web3 investments

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    My Neighbor Alice teases new Pudgy Penguins Web3 game

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    The Crypto Turmoil in the First Half of 2025 – Why It’s Still Worth Investing

    My Neighbor Alice Unveils Cross-Chain NFT Integration with Pudgy Penguins

    My Neighbor Alice Unveils Cross-Chain NFT Integration with Pudgy Penguins

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    What Is Fully Diluted Valuation (FDV) in Crypto?

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    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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  • Analysis
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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Altcoins

Stablecoin market cap hits $141B: What it means for you

March 4, 2024
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Stablecoin market cap hits $141B: What it means for you
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  • The stablecoin market cap hit a 15-month high of $141 billion.
  • USDC’s market cap growth outpaced USDT.

In what was a sign of a clear bullish sentiment, the global stablecoin value recovered to levels last seen before the onset of the crypto bear market.

The market capitalization of such cryptos, which mimic the stability of national currencies, hit a 15-month high of $141 billion at press time, AMBCrypto noticed using DeFiLlama data,

Stablecoin market cap

Source: DeFiLlama

Institutional investors driving demand?

An increase in stablecoin supply typically suggests increasing capital inflows into the crypto market.

This is because most traders from traditional markets would use stablecoins to enter and exit trades on crypto exchanges.

The approval of spot Bitcoin [BTC] ETFs spurred demand for cryptocurrencies, causing many TradFi giants to enter the crypto landscape.

Most of these institutional investors have been steadily increasing their stablecoin holdings since the approval.

Notably, whale wallets accounted for 54% of the total stablecoin supply at press time, up from 49% on the approval day, according to AMBCrypto’s analysis of Santiment data.

Whales corner majority of stablecoin supply

Source: Santiment

The total number of stablecoins on exchanges witnessed an uptick in the last week, as per AMBCrypto’s assessment of CryptoQuant data, a sign of increasing buying pressure.

Note that BTC rose 25% over the week. Hence, it was likely that investors moved stablecoins to exchanges to purchase the king coin.

Stablecoin exchange reserve

Source: CryptoQuant

USDC surpasses USDT’s growth

Leading assets of the ecosystem exhibited strong growth since the beginning of the year, according to data from Glassnode.

The largest stablecoin Tether [USDT] added more than $7 billion to its market cap year-to-date (YTD), marking a growth rate of 8%.

See also  Ethereum: How L2 activity helped its fees remain steady

Seen as the bellwether of the broader market, USDT was eyeing a $1 trillion market cap in the coming days.

USDC vs USDT growth

Source: Glassnode

USDT’s growth was outpaced by USD Coin [USDC], the second-largest stablecoin, which grew more than 17% YTD.

This was a marked turnaround from 2023 during which the asset lost 45% of its market cap owing to the banking crisis of March.

Next: BONK surges by 55%: Are more gains ahead?

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?


  • The stablecoin market cap hit a 15-month high of $141 billion.
  • USDC’s market cap growth outpaced USDT.

In what was a sign of a clear bullish sentiment, the global stablecoin value recovered to levels last seen before the onset of the crypto bear market.

The market capitalization of such cryptos, which mimic the stability of national currencies, hit a 15-month high of $141 billion at press time, AMBCrypto noticed using DeFiLlama data,

Stablecoin market cap

Source: DeFiLlama

Institutional investors driving demand?

An increase in stablecoin supply typically suggests increasing capital inflows into the crypto market.

This is because most traders from traditional markets would use stablecoins to enter and exit trades on crypto exchanges.

The approval of spot Bitcoin [BTC] ETFs spurred demand for cryptocurrencies, causing many TradFi giants to enter the crypto landscape.

Most of these institutional investors have been steadily increasing their stablecoin holdings since the approval.

Notably, whale wallets accounted for 54% of the total stablecoin supply at press time, up from 49% on the approval day, according to AMBCrypto’s analysis of Santiment data.

Whales corner majority of stablecoin supply

Source: Santiment

The total number of stablecoins on exchanges witnessed an uptick in the last week, as per AMBCrypto’s assessment of CryptoQuant data, a sign of increasing buying pressure.

See also  Can Synthetix Perps v2 achievement save SNX from the bears

Note that BTC rose 25% over the week. Hence, it was likely that investors moved stablecoins to exchanges to purchase the king coin.

Stablecoin exchange reserve

Source: CryptoQuant

USDC surpasses USDT’s growth

Leading assets of the ecosystem exhibited strong growth since the beginning of the year, according to data from Glassnode.

The largest stablecoin Tether [USDT] added more than $7 billion to its market cap year-to-date (YTD), marking a growth rate of 8%.

Seen as the bellwether of the broader market, USDT was eyeing a $1 trillion market cap in the coming days.

USDC vs USDT growth

Source: Glassnode

USDT’s growth was outpaced by USD Coin [USDC], the second-largest stablecoin, which grew more than 17% YTD.

This was a marked turnaround from 2023 during which the asset lost 45% of its market cap owing to the banking crisis of March.

Next: BONK surges by 55%: Are more gains ahead?
Tags: 141BcaphitsmarketMeansStablecoin

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