- Tether (USDT) holds 71.4% market share, adopted by USDC and Dai.
- Non-USD stablecoins make up simply 1% of the market.
- The market capitalization jumped from $5.2 billion in 2020 to $150.1 billion in 2022, after which steadily grew.
The crypto market stays on the forefront of actual world asset (RWA) adoption within the digital economic system, with USD-pegged stablecoins gaining a big benefit, based on latest revelations from the 2024 Actual World Belongings Report. You may see that it maintains its sexuality.
The report's key findings counsel that the RWA market is presently dominated by stablecoins pegged to the US greenback. Topping the chart is Tether (USDT) with a staggering $96.1 billion market cap, carefully adopted by USDC at $26.8 billion and Dai at $4.9 billion.
Particularly, Tether maintains its place on this area with a dominant market share of 71.4%. USDC continues to be struggling to get well misplaced floor following a short depeg incident in the course of the March 2023 US banking disaster.
Delving deeper into this example, this report reveals the cruel actuality of minimal diversification past USD-pegged stablecoins. Stablecoins backed by different fiat currencies equivalent to Euro Tether (EURT), CNH Tether (CNHT), Mexican Peso Tether (MXNT), EURC (EURC), Stasis Euro (EURS), and Birira (TRYB) have complete That's just one%. of market share.
Moreover, the report reveals a steady asset market capitalization trajectory through the years. The stablecoin market rose from a modest $5.2 billion in early 2020 to an surprising peak of $150.1 billion in March 2022, however has since fallen amid market volatility.
2024 marked the resurgence of stablecoins, with market capitalization rising by 4.9% from $128.2 billion originally of the 12 months to $134.6 billion as of February 1st.
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