As of Saturday, January 15, 2022, the market capitalization of all existing stablecoins is $173 billion, representing 7.93% of the $2.18 trillion cryptoeconomy. The market valuations of the stablecoins Leine and the usd coin represent 71.84% of the value of the entire stablecoin economy. This week the current total supply of usd coin surpassed Leine, in terms of tokens issued on the Ethereum blockchain, as usd coin has a 0.568% larger fully diluted market cap on the smart contract network. USDC issuance on Ethereum surpasses Tether's ERC20 supply The current total supply of the stablecoin usd coin (USDC) on the Ethereum blockchain is over 40 billion units, …
As of Saturday, January 15, 2022, the market capitalization of all existing stablecoins is $173 billion, representing 7.93% of the $2.18 trillion cryptoeconomy. The market valuations of the stablecoins Leine and the usd coin represent 71.84% of the value of the entire stablecoin economy. This week the current total supply of usd coin surpassed Leine, in terms of tokens issued on the Ethereum blockchain, as usd coin has a 0.568% larger fully diluted market cap on the smart contract network.
The current total supply of the stablecoin usd coin (USDC) on the Ethereum blockchain is over 40 billion units, which is higher than the number of Tethers ( USDT ) on the chain. At the time of writing, according to Etherscan statistics, the current supply of USDT is 39.8 billion units. Although there are only 0.568% more USDC tokens in circulation than Tether, it is the first time that USDC has overtaken it USDT regarding the issuance of Ethereum.
While Tether has seen a total of 136,448,792 transfers ETH Chain USDC has only seen 33,104,877. Essentially, ERC20 Tethers were transacted 312.17% more than USDC tokens were transferred. Tether also has a lot more USDT Tokens across multiple blockchain networks with a current total supply of 79 billion Tethers.
USDC is also on a few different blockchains, but the majority of USDC is on Ethereum. USDC currently has a total supply of 45.3 billion, meaning 5.3 billion USDCs are used on alternative blockchains.
These two stablecoins are giants compared to the other stablecoins in existence as they dominate 71.84% of today's stablecoin economy. In the last 24 hours, there was a total trading volume of $78 billion across the crypto economy. However, stablecoin trading accounts for $47.5 billion of today’s trading volume, or more than 60% of the total.
Statistics from coingecko.com's top stablecoin by market cap show that Tether has increased its supply by 1.8% in the last 30 days. USDC supply has increased by 8.9% in the last month. Decentralized and algorithmic stablecoin offerings have seen a much larger increase in the last 30 days as UST, MIM and FRAX rose by double-digit percentages. Terra's UST is up 22%, MIM is up 17%, and FRAX is up 46.4% in the last month.
What do you think about the current total supply of USDC surpassing the current supply of Tether on the Ethereum blockchain? Let us know your thoughts on this topic in the comments section below.
Photo credit: Shutterstock, Pixabay, Wiki Commons, etherscan.io,
Suche
Mein Konto