Bitcoin has seen a significant portion of price fluctuations this week, but the stubcoin market has quietly bulged $211.4 billion by approaching the $260 billion milestone.
USDT leads the price as Stablecoins sneak towards a $260 billion summit
Over the past seven days, the Stablecoin market has risen 0.84%, marking it from $253.25 billion to $25.5364 billion. For just $4.636 billion, you'll be staring at a fresh high of $260 billion. Currently, Stablecoins accounts for around 7.7% of the $3.32 trillion crypto market. Tether's USDT holds the lion's share of Stablecoin Pie, leading 62.45% of the overall Fiat Pegged Token market.
Source: Defilama.com
USDT itself is heading towards a fresh milestone, with a market capitalization of $15,9479 million and a shy $160 billion. Last week, Tether added about $1.175 billion to its total. No USDC remains, and supply expanded $417.34 million during the same stretch. Circle's USDC, the second largest Stablecoin, currently boasts a market capitalization of around $6180.6 billion.
Coming fourth, Sky Dollar (USDS) made its biggest move this week with an 8.72% jump, increasing its value to $458.3 billion. Ethena's USDE came in third, sneaking up to 0.03% to $556 billion. Dai (Dai), holding the fifth slot, skated just 0.07%, but still reaches $4.324 billion. BlackRock USD (Buidl) fell 1.35%, closing the week at $2.815 billion.
World Liberty Financial's Stablecoin was kept modestly green with a bump of 0.10% and landed at $227 billion. Ethena's USDTB remained locked in place, unchanged to $1.46 billion. First Digital's FDUSD fell 0.56%, bringing the cap down to $1.2116 billion. PayPal USD (PYUSD) took the biggest fall of the week, falling 10% to settle at $87,074 million.
The market is steadily closing at the next milestone as some stub coins have won the ground and others are sliding. As USDT and USDC continue to expand, all eyes are now in all eyes, whether the $260 billion threshold will soon be crossed. Since January 1st, the Stablecoin market has added an average of $272.55 million each day. If that rhythm continues, it will be able to hit a $260 billion milestone by July 21st.
