Issuance of stable coins increased last year – UST recorded largest increase in 12 months – Altcoins Bitcoin news

Issuance of stable coins increased last year – UST recorded largest increase in 12 months – Altcoins Bitcoin news

Stablecoins have become prominent rails for payment in the world of cryptocurrencies, which today have a fiat value of 177 billion dollars. The top ten stable coins by market capitalization represent the largest share of value in the fiat-bound coin economy and many of these tokens grew exponentially last year. Terrin UST stable coin rose the most last year, jumping 5.431% in 2021.

Deep dive into the growth of stable coins during 2021

Stablecoins today represent 9.77% of the $ 1.8 trillion crypto-economy today which is $ 177 billion worth of USD. While many digital assets grew last year, stable coins also experienced an increase in market value as issuance grew from month to month.

Tether (USDT) is the best stabilcoin, in terms of market capitalization with $ 78.3 billion. USDT represents only 4.32% of the $ 1.8 trillion overall crypto economy and amid a stable $ 177 billion economy, USDT exceeds the pack by 44.24%.

Issuance of stable coins increased last year – UST recorded largest increase in 12 months – Altcoins Bitcoin news
The first ten stable coins according to the market estimate on January 30, 2022, the metrics for this publication measure the growth of stable coins between January 1, 2021 until the first of this year.

January 2, 2021 tether (USDT) had a market capitalization of about $ 21.2 billion, and by January 2, 2022, it had grown by 269.81% to $ 78.4 billion. The USD coin (USDC) once had a market capitalization of $ 4.1 billion on January 1, 2021, and about 12 months later it rose 936.58% to $ 42.5 billion.

The third largest stable currency binance usd (BUSD) had a market value of about $ 1.07 billion in the first year of 2021, and on the first day of 2022 it was $ 14.4 billion, an increase of 1,245.79%.

Terrin UST stable coin rose 5,431.22% in 12 months from $ 182.6 million on January 1, 2021 to $ 10.1 billion on the same day in 2022. Makerdao’s DAI rose 641.66% from $ 1.2 billion January 1 at $ 19 billion to $ 19 billion. , 2022.

Magic Internet Money (MIM) did not exist on January 1, 2021, but 128 days or four months ago, MIM had a market capitalization of about $ 879 million. MIM grew 422.18% in four months to $ 4.59 billion by January 1, 2022.

Stablecoin frax (FRAX) had a market capitalization of $ 71 million on January 1, 2021, and on the same day in 2022 it was $ 1.8 billion. FRAX rose an incredible 2,435.21% in 12 months. The eighth largest stable coin trueusd (TUSD) increased by 322.54% in the period from January 1, 2021 to January 1 this year.

TUSD’s market capitalization last year was $ 284 million, and on January 2, 2022, it was $ 1.2 billion. The Pax Dollar (USDP) was worth about $ 346 million on January 1, 2021, and 12 months later it was worth $ 1 billion and rose 189.02%.

Finally, the tenth largest stable coin fei usd (FEI) has no market capitalization as of January 1, 2021, but 301 days ago or nine months ago, it was $ 2.3 billion on April 4, 2021. FEI’s market capitalization is actually decreased over a 12-month period by 66.08% to $ 780 million.

Labels in this story

BUSD, CoinGecko, Cryptocompare, YES AND, Fiat tokens, Fiat-Pegged, FRAX, GUSD, Stablecoin, Stablecoin Caps, stable coin trade, Stablecoin Trading, Stablecoin Volumes, Stablecoins, SUSD, UST land, Tether, Tether (USDT), volume of trade, tusd, USDC, USDT

What do you think about the increase in the issuance of stable coins from January 1, 2021 to the same day this year? Tell us what you think about this topic in the comments section below.

Issuance of stable coins increased last year – UST recorded largest increase in 12 months – Altcoins Bitcoin news

Jamie Redman

Jamie Redman is a news anchor on Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about disruptive protocols appearing today.




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