Mr.Stable
@globalcrypt
148 Following
318 Followers
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As of September 2024, the market capitalization of stablecoins remains a significant portion of the broader cryptocurrency market, representing about 8.2% of the total crypto market cap. The combined market cap of fiat-backed stablecoins reached $161.2 billion, although this is still below the all-time high of $181.7 billion from 2021.
The dominant players remain Tether (USDT), USD Coin (USDC), and DAI, which together account for the majority of stablecoin usage and holdings, with USDT leading the pack in terms of wallet addresses and adoption. However, despite their prominence, stablecoins often face challenges maintaining their peg to the US dollar during times of market uncertainty, particularly newer or algorithmically-backed ones.
Some notable developments include PayPal’s stablecoin (PYUSD), which now holds a market cap of $772 million, and USDD, maintaining a peg close to $1 with a market cap of $733 million.
https://www.coingecko.com/en/categories/stablecoins 0 reply
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📊 Current State of the Cryptocurrency Market - September 12, 2024
The cryptocurrency market has shown interesting movements in the last 24 hours. Here’s a summary of the key highlights:
1. Market Capitalization: The global cryptocurrency market capitalization is approximately **$2.09 trillion**, representing a 1.7% increase in the last 24 hours.
2. Bitcoin (BTC): Bitcoin's price stands at $56,797.74, with a 3.1% increase in the last 24 hours. Bitcoin continues to dominate the market with a 53.6% share of the total market capitalization.
3. Ethereum (ETH): Ethereum has also performed well, reaching **$2,350.79**, which is a 1.9% increase in the last day.
4. Notable Altcoins:
- Solana (SOL): Currently trading at $134.24, with a 2.8% increase in the last 24 hours.
- Dogecoin (DOGE): Up by 6.8%, now at $0.1030.
- Toncoin (TON): Notably increased by 6.1%, reaching **$5.20**.
In summary, the cryptocurrency market is experiencing positive growth, with Bitcoin and Ethereum leading the way. 0 reply
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