The worldwide market for %Stablecoins has risen to $200 billion U.S. amid an ongoing rally in the broader %Cryptocurrency market.
Stablecoins are cryptocurrencies that are tied to an underlying asset, typically the U.S. dollar or price of gold.
Since U.S. President Donald Trump was re-elected last November, the value of stablecoins has risen by about $37 billion U.S, according to market data.
Tether’s USDT remains the dominant stablecoin with a market value of $139 billion U.S. It has grown 15% since last November.
Circle’s USDC stablecoin is the next largest with a market capitalization of $52.5 billion U.S. and growth of 48% over the past three months.
The rally in stablecoins continues amid larger gains in the entire cryptocurrency sector, with %Bitcoin (CRYPTO: $BTC) having increased 50% since Trump’s election win last fall.
Analysts say the gains in stablecoins are healthy and positive for the entire cryptocurrency industry that is now worth $3.5 trillion U.S. worldwide.
