What Is Driving the Surge in Stablecoin Market Capitalization?
09.10.2024 18:30 1 min. read Alexander Zdravkov
CryptoQuant has reported that liquidity within the cryptocurrency market has hit all-time highs.
By the end of September, the market cap of US dollar-pegged stablecoins reached $169 billion, marking a 31% rise since the start of the year.
This increase is primarily driven by Tether’s USDT, which has experienced notable growth in the reserves of centralized exchanges.
As of October, the USDT (ERC20) balances on Ethereum-based exchanges surged to $22.7 billion, reflecting an impressive 54% rise, or $8 billion, since January 2023.
Additionally, centralized exchanges hold approximately $8.5 billion in USDT issued on the TRON network.
Since the onset of the bull market in January 2023, USDT (ERC20) on exchanges has escalated from $9.2 billion to $22.7 billion, representing a 146% increase.
This influx of stablecoins into exchanges signals enhanced liquidity and indicates the possibility of significant market movements.
-
1
Ethereum’s Recent Performance Suggests Possible Market Rebound
18.02.2025 16:00 1 min. read -
2
Lower Ethereum Gas Fees – A Catalyst for Recovery or a Warning Sign?
19.02.2025 13:00 1 min. read -
3
Economist Predicts Bitcoin Breakout, Warns Altcoin Rally May Be Weaker
12.02.2025 8:00 1 min. read -
4
Central African Republic Joins Memecoin Craze, Introduces Own Token
10.02.2025 13:00 2 min. read -
5
Pi Network Sees Unprecedented Surge in Popularity Ahead of Mainnet Launch
18.02.2025 17:00 1 min. read
Trader Turns Ethereum Crash Into $2.15M Profit with High-Stakes Bet
Ethereum’s recent market turbulence saw its price drop to a multi-month low, leaving many investors in losses.
VanEck Moves Forward with Avalanche ETF Filing
VanEck, a global investment firm managing $113.8 billion in assets, is moving forward with plans to launch an Avalanche (AVAX) exchange-traded fund (ETF) after registering a trust in Delaware.
Thailand Approves Tether and Circle Stablecoins for Regulated Trading
Thailand’s financial regulator has granted approval for the use of Tether’s USDt and Circle’s USDC in cryptocurrency trading, allowing them to be listed on licensed exchanges.
Here Are the Top 12 Cryptos That Gained in the Last 90 Days
Crypto analyst Miles Deutscher has shared recent data highlighting a challenging period for the digital asset market, revealing that only 12 out of the top 100 cryptocurrencies by market capitalization have posted positive returns in the past three months.
-
1
Ethereum’s Recent Performance Suggests Possible Market Rebound
18.02.2025 16:00 1 min. read -
2
Lower Ethereum Gas Fees – A Catalyst for Recovery or a Warning Sign?
19.02.2025 13:00 1 min. read -
3
Economist Predicts Bitcoin Breakout, Warns Altcoin Rally May Be Weaker
12.02.2025 8:00 1 min. read -
4
Central African Republic Joins Memecoin Craze, Introduces Own Token
10.02.2025 13:00 2 min. read -
5
Pi Network Sees Unprecedented Surge in Popularity Ahead of Mainnet Launch
18.02.2025 17:00 1 min. read
