{"id":139187,"date":"2024-10-09T18:30:00","date_gmt":"2024-10-09T15:30:00","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=139187"},"modified":"2024-10-09T15:40:27","modified_gmt":"2024-10-09T12:40:27","slug":"what-is-driving-the-surge-in-stablecoin-market-capitalization","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/what-is-driving-the-surge-in-stablecoin-market-capitalization\/","title":{"rendered":"What Is Driving the Surge in Stablecoin Market Capitalization?"},"content":{"rendered":"<p>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.<\/p>\n<p>This increase is primarily driven by Tether\u2019s <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/tether\/\">USDT<\/a><\/strong>, which has experienced notable growth in the reserves of centralized exchanges.<\/p>\n<p>As of October, the USDT (ERC20) balances on <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">Ethereum<\/a><\/strong>-based exchanges surged to $22.7 billion, reflecting an impressive 54% rise, or $8 billion, since January 2023.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/ethereum-user-pays-700k-in-fees-for-zero-value-transaction\/\" title=\"Ethereum User Pays $700K in Fees for Zero-Value Transaction\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/07\/ethereum6-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Ethereum User Pays $700K in Fees for Zero-Value Transaction<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Additionally, centralized exchanges hold approximately $8.5 billion in USDT issued on the <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/tron\/\">TRON<\/a><\/strong> network.<\/p>\n<p>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.<\/p>\n<p>This influx of stablecoins into exchanges signals enhanced liquidity and indicates the possibility of significant market movements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CryptoQuant has reported that liquidity within the cryptocurrency market has hit all-time highs.<\/p>\n","protected":false},"author":9,"featured_media":27374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24],"tags":[71],"class_list":["post-139187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-stablecoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is Driving the Surge in Stablecoin Market Capitalization?<\/title>\n<meta name=\"description\" content=\"CryptoQuant has reported that liquidity within the cryptocurrency market has hit all-time highs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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