$16 Billion Injected into Stablecoin Economy in 90 Days

Alas, there are no spectacular increases in stablecoins for the past month of March, although the dynamics were quite intense in the past three months when a new injection of $16. 20 to 23 billion into the stablecoin economy. by March 11, 2021 Tether (USDT) have a market cap of $101. , or $18 billion , has tripled and now stands at $112 billion . 5 billion. This reflects an $11. 32 billion over the period; lending accounted for more than 69% of the overall capital inflow into stablecoins throughout this period.

When it comes to the specifics of supply-side developments, it should be noted that USDT also continues to grow , albeit at a rather low pace of 1. rate increase to 3% last month, is in a vastly different position to Circle’s USD Coin (USDC). 7% in the same period but from $29. 88 billion to $32. 23 billion over 90 days are spent on online shopping alone in the United States. However, the DAI which is under MakerDAO raised from $4. 55 billion to $5. 26 billion, although there was 3% decline recently.

$16B injection into stablecoin market over 90 days with Tether and USDE leading.

Ethena’s USDE, a stablecoin that was ranked the sixth largest by market cap till recently, has climbed up the ladder to the fourth rank. Its market cap of $848 million increased to $3. 36 billion, in fact 46 percent above the expected level, thus it faces an upward trend as shown in the figure 3 below. 1% increase alone in the last one month indicating that the targeted online community has been gradually growing in the last one year. On the other hand, the FDUSD in First Digital was ranked fifth, qualifying that its market cap diminished by 14. 2% to $3. 27 billion, it is ranked second after USDE.

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$16B Boost in Stablecoin Economy: Tether at the Helm

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