USDT accounted for 69% of the inflow of funds into the stablecoin sector over the past 90 days
Overall, stablecoins have raised $16,23 billion since March
10.06.2024 - 08:01
218
3 min
0
What’s new? Over the past 90 days, $16,23 billion has flowed into the stablecoin sector. In particular, the capitalization of Tether’s largest centralized stablecoin USDT has increased by $11,32 billion since March 11 and reached $112,54 billion. Thus, USDT accounted for more than 69% of the inflow.
Data from the CoinGecko aggregator
What else is known? The capitalization of the main competitor of USDT, USDC from Circle, increased from $29,88 to $32,2 billion during the same period. The third asset in the raking of stablecoins, DAI from Maker Protocol, showed growth from $4,55 to $5,27 billion.
Rapid growth was recorded in the “synthetic dollar” USDE from the decentralized protocol Ethena. 90 days ago, USDE was ranked sixth in the ranking of stablecoins by market capitalization ($848 million). Since then, it has risen to fourth place, displacing FDUSD promoted by crypto exchange Binance. USDE’s capitalization rose by 301% to $3,4 billion.
BitMEX exchange founder: the Ethena token rate will grow by more than 800%
Earlier, Santiment noted the popularity of ENA on social networks
FDUSD capitalization surged by more than $1,2 billion between March and April, reaching an all-time high at $4,4 billion. However, it has since collapsed by 26%, pushing the asset to the fifth place in the raking of stablecoins ($3,28 billion).
At the end of April, Kaiko analysts noted a decline in USDT’s share in the total volume of stablecoins on centralized exchanges (CEXs), attributing it to growing competition.
Tether CEO says there are “problematic requirements” in the EU law on crypto regulation
Earlier, Paolo Ardoino criticized the requirement to keep reserves in bank deposits that do not have insurance
In May, experts from Deutsche Bank said that there are risks of Tether monopoly in the stablecoin market, which is characterized by non-transparency and speculation. In addition, the bank noted that the majority of such assets are doomed to lose their peg to fiat currencies.
Useful material?
Telegram 
Twitter Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024
Cryptocurrency rates
-
Bitcoin
$68 751
BTC
-0.26%
-
Ethereum
$2 441.53
ETH
-1.15%
-
BNB Smart Chain
$570.25
BSC
-0.32%
-
Ripple
$0.507017
XRP
-0.79%
-
Dogecoin
$0.169683
DOGE
+7.48%
-
Cardano
$0.331741
ADA
-0.12%
-
Bitcoin Cash
$338.72
BCH
-0.14%
-
Polkadot
$3.84
DOT
+0.94%
-
Litecoin
$65.5
LTC
-1.96%
-
Stellar XLM
$0.092378
XLM
+0.51%