Stablecoin capitalization tops $25 billion

The total market capitalization of the five most popular stablecoins surpassed $25 billion. This accounts for 4.3% of the overall cryptocurrency market cap, according to CoinGecko

Tether is the undisputed leader among stablecoins. Its market capitalization exceeds $20 billion, and its share of the segment stands at 80%.

Data: Messari, ForkLog as of December 7, 2020.

USDC is the second-most popular stablecoin, its market capitalization recently surpassed $3 billion. It is followed by DAI ($1.13 billion), Binance USD ($703 million) and TrueUSD ($322 million).

The chart below shows the segment’s growth trend over the last several years.

Data: Messari, ForkLog report for November.

The number of USDT and USDC transactions at the beginning of December has declined somewhat.

Data: Messari, Coin Metrics, ForkLog.

The number of blocked USDT addresses at the time of writing stands at 237, according to Dune Analytics.

Earlier, CryptoQuant CEO Ki Young Ju expressed the view that the recent Bitcoin rally was fueled by rising balances of exchange wallets with stablecoins.

More information about stablecoins and other crypto assets in the November ForkLog report.

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