Stablecoin market capitalization records 254.8458 trillion won
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According to a report released by the on-chain analysis platform lama on the 19th, the total market capitalization of stablecoins reached $183 billion (approximately 254.8458 trillion won), setting a new all-time high.
The previous peak in stablecoin market capitalization was $169.57 billion (approximately 225.3585 trillion won) recorded in August this year.
The report states that the market capitalization of stablecoins increased by about $10 billion after the confirmation of the election of former President Trump as the 47th President of the United States.
Among the stablecoins that showed the highest growth rate after Trump's election confirmation, stood out. 's market capitalization increased by about $8 billion (approximately 11.1408 trillion won) in the last two weeks.
The report attributed the increase in market capitalization to the entry of new stablecoins such as PayPal, chain, and into the market.
The rapid rise in the market capitalization of stablecoins has led to the interpretation that the long-awaited bullish market has arrived. This is because and other stablecoins are being used as the base currency for purchasing cryptocurrencies on global cryptocurrency exchanges, significantly increasing liquidity in the market.
Reporter Kwon Seung-won ksw@blockstreet.co.kr
