According to Alphractal’s data, the market cap of Stablecoin has reached a record since mid -2012.
The data analysis platform reported on January 31 that the market cap of STABLECOIN rose 73% from $ 1,111 billion in August 2023, while USDC (USDC) had an advantage over other stablecoins.
Stablecoin market cap. Source: Alphractal
Data analyzing the market cap of other Starble Lecomin, except for USDT (USDT) and USDC, show relatively average growth since 2024. This indicates that USDT and USDC are the two most preferred stables in the encryption market.
“The rest of the market has not grown much since 2023 and has maintained a stable average value.”
STABLECOINS market cap except USDT and USDC. Source: Alphractal
The USDT, the largest stable market cap, recorded $ 140 billion in $ 140 billion in December 2023. The market cap is $ 139.4 billion on January 31, with market dominance of 63.84%.
USDC gets exercise
USDC’s market caps have risen since November 2023.
According to CoinmarketCap’s additional data, USDC’s market caps increased by more than 120% from $ 24.1 billion on November 14, 2023 to $ 53.4 billion at the time of writing.
USDC market cap. source: Coinmarketcap
This increase is consistent with the increase in demand, and the USDC pair has a daily daily trading volume of $ 20 billion on January 18.
According to COINTELEGRAPH’s initial report, USDC circulation increased 78% year -on -year to surpass the growth rate of all global Stablecoins. According to COINMARKETCAP, USDC’s circulation supply is $ 53.4 billion as of January 31, more than double that of $ 24 billion in 2023.
Alphractal has recently benefited from the fall of Altcoins, and investors have shifted much of their encryption to USDC.
In 2024, the USDC market surge in 2023, resulting in a massive decline, with STABLECOIN’s market value decreased by 45%due to the failure of Silicon Valley Bank (SVB).
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Is the encryption cycle the top?
USDC’s dominance is the same as the end of the 2021 bull. This was the beginning of the 2022 bear market in November 2022, which lowered the price drop of Bitcoin (BTC) to $ 15,500.
Alphractal is as follows:
“If this metrics continue to increase, it can be a weak signal of the encryption market, indicating that risk evasion increases. On the other hand, if it decreases, it can open a way for the best market. ”
USDC market domination. Source: Alphractal
During the last bull market cycle, the USDC supply began to rise in May, and reached its peak about four months after the asset price peaked in March 2022.
The total market cap of SABLECOIN increased by 177% in April 2021, up to $ 167.5 billion in March 2022.
If the current STABLECOIN market supply continues to increase and encryption prices begin to fall, the market can reach the peak for the next few months.
On the contrary, the market capitalization of the rising Starble Leco is generally associated with the increase in investor convictions and indicates the possibility of promoting capital inflow. This suggests that the momentum of strength can continue for months.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.