Stablecoin Market Surges Reaching $165.93 Billion; USDT and USDC Lead

• The stablecoin market cap has grown to $165,931,595,485, up 0.14% in a day and 1%+ in a week.
• The top five stablecoins include Tether (USDT), USDC, DAI, FDUSD, and USDD.
• While USDT boasts a market cap of $114,075,708,352, USDC holds a market cap of $34,087,775,307.

In the highly volatile crypto space, the stablecoin market has seen significant growth over the past week. Reports suggest that stablecoins have grown to a total market cap of $165,931,595,485, marking an over 1% weekly surge and a slight 0.14% daily surge.

Stablecoins are crypto assets pegged to stable assets like fiat currencies, gold, or other commodities. Backed by stable assets, the value of these tokens remains stable, becoming an alternative to highly volatile cryptocurrencies such as Bitcoin.

The top stablecoins include Tether (USDT), USDC, DAI, FDUSD, and USDD. Tether has secured the first position in stablecoins with a market cap of $114,075,708,352. The stablecoin has been stable at $1, with a 0% change over the last 24 hours. The 24-hour trading volume of the stablecoin, currently at $38.78B, has experienced a notable decline of over 35%.

USDC, a stablecoin issued by the bl…

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