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Global Stablecoin Market Capitalization Exceeds $212 Billion
Analysis of user preferences has demonstrated the absolute leadership of Tether's USDT stablecoins, which dominate the market with a share of about 65% and a capitalization of $138.5 billion. The closest competing asset, Circle's USDC stablecoin, has grown by more than 11% over the past week, reaching a market capitalization of about $51 billion.
According to experts at Castle Island Ventures, the stablecoin market was able to reach a new historical level due to the fact that stablecoins are becoming a preferred asset for everyday transactions, savings, currency conversion and cross-border payments.
Castle Island said that stablecoins have penetrated the deepest into the emerging markets of Latin America, Africa, the Middle East and Indochina.
Earlier, Circle CEO and co-founder Jeremy Allaire suggested that dollar-pegged stablecoins could become a mass-market US export product. 2 replies
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