• About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
Tuesday, March 21, 2023
  • Login
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading
No Result
View All Result
Crypto Reception
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading
No Result
View All Result
Crypto Reception
No Result
View All Result
Home Stablecoin

Total Stablecoin Supply Surpasses $100 Billion; $70 Billion of it Issued Just This Year

May 27, 2021
in Stablecoin
Reading Time: 3 mins read
0
Total Stablecoin Supply Surpasses $100 Billion; $70 Billion of it Issued Just This Year
Share on FacebookShare on TwitterShare on RedditShare on Whatsapp


Stablecoins

Total Stablecoin Supply Surpasses $100 Billion; $70 Billion of it Issued Just This Year

While the dominant stablecoin Tether’s market cap has fallen from 85.63% a year back to now at 62.17%, USDC’s has surged from 6.77% to 21% during the same time period.

The total supply of stablecoins has now surpassed the 100 billion milestone.

Interestingly, more than 70% of the supply was printed just in the first five months of 2021, as the stablecoin supply started this year at just under $29 billion.

On March 1st, 2020, the total stablecoin supply was a mere $5.95 billion. On March 4th, 2021 it had added nearly $50B to reach $55 Billion.

Tether (USDT) remains the dominating stablecoin with its supply at 62.25 billion. However, USD has been continuously losing its dominance, down from over 97% in late 2018 to 85% in the mid of last year to now at a mere 62.17%.

Issued on several blockchains, it is currently at nearly $33 billion the most of USDT is supplied on Tron blockchain, then at Ethereum at almost $28 billion.

The biggest reason for Tether’s downfall is USDC, whose supply was at 4.18 billion at the start of 2021 and has now reached 21.86 billion, recording an increase of 423%. In March last year, USDC supply was not even half a billion dollars.

USDC now accounts for nearly 21% of the stablecoin market share, up from 6.77% a year back.

Meanwhile, BUSD has an 8.86% market share, followed by DAI’s 4.50% and PAX’s 1.32%.

“The increase in market cap for USDC, PAX, BUSD, and DAI marks a very important transition from only 1 major stablecoin provider and helps make a more robust ecosystem,” noted Split Capital.

“This is also a major problem for existing banks + fintech companies that don’t have an actionable plan for crypto.”

The value in stablecoins has also started to dwarf major banks’ market caps. But the biggest ones are still a bit far off, with JPMorgan having a $490 billion market cap, Bank of America $360 billion, Wells Fargo $191 billion, Morgan Stanley $166 billion, and Citigroup $160 billion.

“The most obvious reason why this is bullish is because dollars are no longer flowing only from BTC <> USD but through other points (DeFi, ETH, etc.) & the dollars remaining within the ecosystem and not moving back out,” said Split Capital.

AnTy

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.





Source link

Related articles

coinbase circle

Did Circle Get A $3 Billion Credit Line From Coinbase To Get USDC Back To $1?

March 20, 2023
Binance News

Binance Ditches BUSD To Adopt Rival Stablecoins For “Safu Fund”; BUSD’s Reign Coming To An End?

March 17, 2023
Share2Tweet1ShareSend

Related Posts

coinbase circle

Did Circle Get A $3 Billion Credit Line From Coinbase To Get USDC Back To $1?

March 20, 2023
0

Crypto News: As more information about the tragic weekend of the USDC depeg continues to surface, the newest development...

Binance News

Binance Ditches BUSD To Adopt Rival Stablecoins For “Safu Fund”; BUSD’s Reign Coming To An End?

March 17, 2023
0

Binance News: Back on January 29, 2022, Binance unveiled the “Secure Asset Fund for Users (SAFU), which is an...

Circle CEO claims traditional banks will soon indulge in stablecoins

Circle CEO: SVB Collapse Came During Bank Transition Period For USDC

March 15, 2023
0

Circle CEO Jeremy Allaire described the recent banking crisis in the United States as ‘dramatic’ and ‘challenging’. He said...

Circle Changes USDC Reserve Composition To Cash and Treasury Bonds

Breaking: Circle Accessed USDC Reserves In SVB Account, CEO Confirms

March 14, 2023
0

Circle USDC News: In the wake of the devastating effect the failure of Silicon Valley Bank and Signature Bank...

Circle's USDC Redemptions Reaches $2.5 Billion In 24Hrs, Exchange Inflow $7B

Circle’s USDC Stablecoin Continues to See Heavy Redemptions Despite Market Recovery

March 14, 2023
0

Massive redemptions for Circle’s USDC stablecoin continued on Monday, March 13, after the weekend panic and de-peg in the...

Load More
  • Trending
  • Comments
  • Latest
Cryptanalysis project Toon Finance Coin will bring larger returns than DOGE & SHIBA INU in 2023 | NewsBTC

Cryptanalysis project Toon Finance Coin will bring larger returns than DOGE & SHIBA INU in 2023 | NewsBTC

December 17, 2022
Crypto Academy CEO Granit Mustafa: blockchain will “redefine digital finance”

Crypto Academy CEO Granit Mustafa: blockchain will “redefine digital finance”

September 23, 2022
Crypto inflows

Exchange Inflows Ramp Up As Crypto Investors Clamor To Exit Market

June 14, 2022
Twitter Begins Massive Layoffs — Elon Musk Says 'No Choice' Citing $4M Loss per Day

Twitter Begins Mass Layoffs — Elon Musk Says ‘No Choice’ Citing $4M Loss per Day – Featured Bitcoin News

November 6, 2022
crypto stocks Bitcoin price

Amid Bitcoin Price Rally, BTC Funds See Major Outflows, This Cohort Is Booking Profits

0
Floyd Mayweather – Boxing Champion Promoted an ICO

Floyd Mayweather – Boxing Champion Promoted an ICO

0
Cannabis Industry Going Crypto | CryptoPost

Cannabis Industry Going Crypto | CryptoPost

0

Why South Korea Decided To Ban ICOs?

0
crypto stocks Bitcoin price

Amid Bitcoin Price Rally, BTC Funds See Major Outflows, This Cohort Is Booking Profits

March 21, 2023
afip argentine tax authority

Argentine Tax Authority AFIP Detects Irregularities in 184 Digital Wallet Tax Statements – Taxes Bitcoin News

March 21, 2023
fed crypto bitcoin

Tuesday’s Fed Meeting to Decide the Next Movement in Bitcoin (BTC) Price

March 21, 2023
Economist David Rosenberg Warns of Impending 'Crash Landing' and Recession, Citing Fed Data

Economist David Rosenberg Warns of ‘Crash Landing’ and Recession, Citing Fed Data – Economics Bitcoin News

March 21, 2023

Recommended

Former Bitcoin Dev Gavin Andresen Revises 2016 Blog Post, Calls Trust in Craig Wright a ‘Mistake’

Former Bitcoin Dev Gavin Andresen Revises 2016 Blog Post, Calls Trust in Craig Wright a ‘Mistake’ – Bitcoin News

February 6, 2023
Best crypto projects that are pushing for decentralized digital global payments

Best crypto projects that are pushing for decentralized digital global payments

March 28, 2022
anubisdao, rug pull, funds, drained,

Two NFT Rug-Pull Scammers Got Arrested For $1.1 Million Scam

March 27, 2022
Will Big Eyes Coin’s NFT Sushi Club Reach The Top Ten Like Ethereum’s CryptoPunks And BNB’s NFT Marketplace? | NewsBTC

Will Big Eyes Coin’s NFT Sushi Club Reach The Top Ten Like Ethereum’s CryptoPunks And BNB’s NFT Marketplace? | NewsBTC

October 19, 2022

Recent News

crypto stocks Bitcoin price

Amid Bitcoin Price Rally, BTC Funds See Major Outflows, This Cohort Is Booking Profits

March 21, 2023
afip argentine tax authority

Argentine Tax Authority AFIP Detects Irregularities in 184 Digital Wallet Tax Statements – Taxes Bitcoin News

March 21, 2023

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Business
  • Ethereum
  • Guide
  • ICO News
  • Litecoin
  • Market Analysis
  • Press Release
  • Regulation
  • Ripple
  • Stablecoin
  • Trading
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions

CryptoReception © 2021 All rights reserved

No Result
View All Result
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading

CryptoReception © 2021 All rights reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.