The global stablecoin supply has hit new highs, with Tether (USDT) and USD Coin (USDC) dominating the sector.<\/p>\n
According to a Bloomberg report<\/a> citing data from DefiLlama, the market capitalization of stablecoins has increased\u00a0by 46% this year, reaching a record of about $191.6 billion at the time of writing.<\/p>\n According to recent statistics from DefiLlama, the overall value of stablecoins has gradually accelerated upwards over the last 12 months, showcased by a more than 50% increase from the beginning of 2024 to date.<\/p>\n Tether, the world\u2019s largest stablecoin issuer, has seen the circulation of its USDT token reach approximately $133 billion, accounting for about 69% of the global market for such assets.<\/p>\n The other big player in the market, USDC<\/a>, saw its market value rise to $39.5 billion after ending the financial year 2023 with $24 billion in circulation. The Circle-issued stablecoin holds 21% of the global market share.<\/p>\n In 2022, after the fall of TerraUSD, which fueled a market crash, the total value of stablecoins reportedly plummeted by $19 billion. Almost two and a half years later, the sector soared to new heights, reaching nearly $170 billion<\/a> in August.<\/p>\n President-elect Donald Trump\u2019s bullish crypto stance has also helped rally<\/a> the digital assets market, pushing several cryptocurrencies to new all-time highs, including a Bitcoin surge past $99,000. Additionally, data from Coingecko shows that the overall value of the crypto market has increased by $0.88 trillion since Trump won.<\/p>\n Elsewhere, there\u2019s growing optimism that stablecoins will soon be more relevant to global trade, specifically cross-border transactions.<\/p>\n At the forefront of this is Tether, which recently announced it had completed its first-ever crude oil transaction from the Middle East. In October, the company\u2019s investment division reportedly sponsored a physical crude oil transaction between a publicly traded supermajor oil firm and a top commodity dealer.<\/p>\n The intent to use stablecoins has also been ignited in the United Kingdom, whose policymakers plan to build a crypto regulatory framework come 2025, as Economic Secretary Tulip Siddiq revealed<\/a>.<\/p>\n Investors in the UK were hopeful of a regulatory environment change, as the previous Conservative government placed crypto use under the country\u2019s payment laws. According to Tulip, the new Labour government will implement a plan laid out by its predecessor to regulate stablecoins.<\/p>\n Policymakers are also seeking to ease the stringent rules the Financial Conduct Authority (FCA) imposes on the registration of crypto companies.<\/p>\n The post Global Stablecoin Supply Hits New All-Time High<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The global stablecoin supply has hit new highs, with Tether (USDT) and USD Coin (USDC) dominating the sector. According to a Bloomberg report citing data from DefiLlama, the market capitalization of stablecoins has increased\u00a0by 46% this year, reaching a record of about $191.6 billion at the time of writing. Stablecoin Market Value Up 50% Since […]<\/p>\n","protected":false},"author":0,"featured_media":24276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24275"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24275"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24275\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24276"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Stablecoin Market Value Up 50% Since January<\/h2>\n
Expectations on Crypto Adoption Grow<\/h2>\n