• The stablecoin market capitalization grew to $165,931,595,485, up 0.14% in a day and over 1% in per week.
  
• The highest 5 stablecoins embrace Tether (USDT), USDC, DAI, FDUSD, and USDD.
• USDT has a market cap of $114,075,708,352, whereas USDC has a market cap of $34,087,775,307.

Within the extremely risky cryptocurrency trade, the stablecoin market has seen important development over the previous week. Based on the report, the whole stablecoin market capitalization has grown to a complete of $165,931,595,485, recording a weekly spike of over 1% and a day by day spike of simply 0.14%.

Stablecoins are crypto belongings which might be pegged to a secure asset, similar to fiat foreign money, gold, or different commodities. As a result of they’re backed by a secure asset, the worth of those tokens stays secure, making them an alternative choice to risky cryptocurrencies similar to Bitcoin.

A number of the prime stablecoins embrace Tether (USDT), USDC, DAI, FDUSD, and USDD. Tether holds the highest spot amongst stablecoins with a market cap of $114,075,708,352. This stablecoin has stabilized at $1, with a 0% change up to now 24 hours. The 24-hour buying and selling quantity of this stablecoin is presently at $38.78 billion, experiencing a big lower of over 35%.

USDC, a stablecoin issued by blockchain platform Circle, ranks second among the many prime stablecoins. USDC is pegged to the US Greenback and is presently valued at round $0.9999, up 0% up to now day. The token has a market capitalization of $34,087,775,307 and a 24-hour buying and selling quantity of $3,814,172,113.

In third place is DAI, a stablecoin constructed on the Ethereum blockchain. Pegged to the US Greenback, the stablecoin has a market capitalization of $5,348,124,972. Over the previous 24 hours, DAI buying and selling quantity has dropped considerably, presently at $47 million, down 66%.

First Digital USD (abbreviated as FDUSD) is a US dollar-backed stablecoin launched in 2023 by Hong Kong-based First Digital Labs. With a market capitalization of $1,988,992,378, FDUSD ranks fourth.^Quantity It is among the prime stablecoins. A notable drop in buying and selling quantity is obvious as buying and selling quantity fell by 45% to $2,236,243,559. The fifth largest stablecoin by market cap is USDD, a dollar-pegged algorithmic stablecoin issued by Tron DAO. This stablecoin has a market cap of $740,134,481 and a 24-hour buying and selling quantity of $4,418,627.