The stablecoin market continues to show a clear expansion trend. According to defillama, as of the 16th (local time), the total stablecoin market size increased by about 2.3% over a week, exceeding $27.67 billion (approximately 384.6 trillion won).
Tether (USDT), the market leader, solidified its position by occupying more than 60% of the total market. It increased by about $1.4 billion (approximately 1.9 trillion won) in a week, and Circle's USDC also showed strength by additionally issuing $2.8 billion (approximately 3.9 trillion won) during the same period.
In contrast, Skydollar (USDS) decreased by more than 9.9% on a weekly basis, and BlackRock's BUIDL rebounded this week but declined by more than 15% on a cumulative monthly basis.
Particularly, USDe issued by Etna showed a notable upward trend. It increased by more than 15% in a week and surged by an impressive 112% over a month, significantly expanding its presence in the market.
The stablecoin market is showing the possibility of restructuring the existing landscape with the stable growth of Tether and USDC, along with the steep rise of emerging coins like USDe. This is expected to lead to intensified liquidity competition and expanded utilization of the DeFi ecosystem.
