Over the last few weeks, the market value of leading stablecoins has experienced a notable increase. The economy of these fiat-pegged tokens expanded from $123.66 billion to the present $129.14 billion. This substantial growth of almost $6 billion comes after the stablecoin industry shed tens of billions in the last year. Notably, tokens such as BUSD, USDP, and USDC recorded considerable redemptions over the past 12 months.
Stablecoins Experience Multi-Billion-Dollar Market Expansion in Three Weeks
Recent data indicates that from November 2 to November 24, 2023, spanning 22 days, the stablecoin market expanded by $5.48 billion. Over the previous 24 hours, fiat-pegged cryptocurrencies achieved a trading volume of $50.74 billion, in contrast to the global total trading volume of $88.65 billion.
The metrics show stablecoin swaps constitute 57.23% of the overall trading volume worldwide. Tether (USDT) leads with a market value of $88.59 billion, comprising 68.59% of the total $129.14 billi
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