Stablecoin Cap Hits Record High..."Market Liquidity Is Rising"

9.94% in one month ↑…Recorded around $190 billion

The market capitalization of stablecoins reached an all-time high, and it was predicted that the recently started bull market would continue.

According to data from the on-chain analysis platform CC Data, the market capitalization of global stablecoins reached an all-time high of $190 billion on Nov. 27. The market capitalization of stablecoins has risen by about 9.94% since October, exceeding $188 billion recorded in April 2022.

The biggest gainers in stablecoins were USDC and Tethe (USDT). USDC and Tether's market capitalizations rose about 12.1% and 10.5%, respectively, over the past month, to $38.9 billion and $133 billion on Nov. 27.

Tether's stablecoin market share is about 69.9%, effectively continuing its exclusive stay in the stablecoin market.

Crypto Slate, a cryptocurrency media outlet, interpreted the increase in the market capitalization of stablecoins as an increase in market liquidity, predicting that the market will continue to grow. "The monthly trading volume of stablecoins exceeded $1.81 trillion as of the end of this month," Crypto Slate said. "The current surge in the market capitalization of stablecoins can be expected to continue to grow due to increased liquidity in the cryptocurrency market."

권승원 기자 ksw@blockstreet.co.kr