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 by 46% this year, reaching a record of about $191.6 billion at the time of writing.
Stablecoin Market Value Up 50% Since January
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.
Tether, the world’s 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.
The other big player in the market, USDC, 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.
In 2022, after the fa
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