• The stablecoin market has recorded a new all-time high of $177 billion, surging past the previous high.
• The market has seen rapid growth in the past 11 consecutive months.
• Tether’s USDT leads the pack, while USDC and DAI follow close behind.

The stablecoin market is booming, reaching a new all-time high of $177 billion. This marks 11 consecutive months of growth, shattering the previous record set in March 2022. Tether (USDT) is leading the pack, with its market cap surpassing $118 billion. This surge in stablecoin adoption suggests growing interest in less volatile crypto assets, even as the broader crypto market experiences fluctuations.

CoinMarketCap data reveals a substantial increase in stablecoin trading volume, currently at $82.75 billion, up 34%. This growth comes as Bitcoin’s price recently dipped below $60,000, contributing to a 6.5% drop in the total crypto market cap to $2.179 trillion.

Stablecoins are cryptocurrencies designed to maintain a stable value, usually pegged to fiat currencies or commodities like gold. They offer a less volatile alternative to cryptocurrencies like Bitcoin.

When the stablecoin market broke the $167 billion reco…

The post Stablecoins Hit Record $177B Market Cap, Tether Leads Surge appeared first on Coin Edition.

• The stablecoin market has recorded a new all-time high of $177 billion, surging past the previous high.
• The market has seen rapid growth in the past 11 consecutive months.
• Tether’s USDT leads the pack, while USDC and DAI follow close behind.

The stablecoin market is booming, reaching a new all-time high of $177 billion. This marks 11 consecutive months of growth, shattering the previous record set in March 2022. Tether (USDT) is leading the pack, with its market cap surpassing $118 billion. This surge in stablecoin adoption suggests growing interest in less volatile crypto assets, even as the broader crypto market experiences fluctuations.

CoinMarketCap data reveals a substantial increase in stablecoin trading volume, currently at $82.75 billion, up 34%. This growth comes as Bitcoin’s price recently dipped below $60,000, contributing to a 6.5% drop in the total crypto market cap to $2.179 trillion.

Stablecoins are cryptocurrencies designed to maintain a stable value, usually pegged to fiat currencies or commodities like gold. They offer a less volatile alternative to cryptocurrencies like Bitcoin.

When the stablecoin market broke the $167 billion reco…

The post Stablecoins Hit Record $177B Market Cap, Tether Leads Surge appeared first on Coin Edition.