WebsCrypto
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • Markets
  • NFTs
  • Blockchain
  • Business
  • DeFi
  • Regulation
  • Policy
Facebook Twitter LinkedIn Telegram
WebsCryptoWebsCrypto
Crypto Prices
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • Markets
  • NFTs
  • Blockchain
  • Business
  • DeFi
  • Regulation
  • Policy
WebsCrypto
WebsCrypto—News—The Total Market Value of 4 Leading Stablecoins Surpassed Ethereum for the First Time
News

The Total Market Value of 4 Leading Stablecoins Surpassed Ethereum for the First Time

By WebsCryptoJune 26, 20221 Min Read
The Total Market Value of 4 Leading Stablecoins Surpassed Ethereum for the First Time
Facebook Twitter Telegram LinkedIn Reddit Email

According to the latest analysis data from blockchain analysis company Glassnode, the total market value of the top four stablecoins (USDT, USDC, BUSD and DAI) has surpassed the market value of Ethereum by $3 billion.

Throughout 2020-22, the combined market capitalization of the top 4 stablecoins has repeatedly reached 50% of Ethereum’s market capitalization, yet a sharp breakout occurred in May and June of this year, the first of its kind.

Since the beginning of May, stablecoin redemptions out of the market totaled $9.92 billion. USDT had the largest redemption volume at $13 billion, followed by DAI at $2 billion, as investors opted to end their leverage (or be liquidated) through the MakerDAO vault.

In addition, the supply of USDC has increased by $5 billion since May 1, suggesting that the market’s preference for stablecoins may shift from USDT to USDC.

Related:  Ethereum On-Chain Data Suggests Upcoming Shanghai Upgrade Won't Cause ETH Selling Pressure
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Altcoin Blockchain Crypto Cryptocurrency DAO Ethereum Market
Related News

Venezuelan Regulators Shut Down Cryptocurrency Exchanges, Mining Farms

The Y00ts NFT Project Will Be Migrated to Polygon on March 27

Dogecoin Foundation Releases Major Update to Libdogecoin Toolkit, Supports BIP-39 Seeds and QR Code Generation

Billionaire Tim Draper: Companies Should Hold Bitcoin After SVB Bankruptcy

Circle CEO Warns of Market Anxiety Over ‘Aggressive Regulatory Action’ in US

Mysten Labs Buys Back Equity and Token Warrants from FTX Assets for $96M

The Latest
News March 26, 2023
Venezuelan Regulators Shut Down Cryptocurrency Exchanges, Mining Farms
News March 26, 2023
The Y00ts NFT Project Will Be Migrated to Polygon on March 27
News March 26, 2023
Dogecoin Foundation Releases Major Update to Libdogecoin Toolkit, Supports BIP-39 Seeds and QR Code Generation
News March 26, 2023
Billionaire Tim Draper: Companies Should Hold Bitcoin After SVB Bankruptcy
Markets March 24, 2023
Circle CEO Warns of Market Anxiety Over ‘Aggressive Regulatory Action’ in US
Block 3000

WebsCrypto contains crypto news about cryptocurrencies, bitcoin, ethereum, altcoins and more.

Facebook Twitter Instagram LinkedIn Telegram RSS
News
  • Markets
  • Business
Information
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Services
  • About Us
  • Contact Us
  • Advertise
© 2023 WebsCrypto.
  • Privacy Policy
  • Terms of Service

Type above and press Enter to search. Press Esc to cancel.