Stablecoin

USDC

Pack

Rise

Coin

<p>The <a href="https://coinpedia.org/glossary/stable-coin/" target="_blank" rel="noreferrer noopener">stablecoin</a> market has surged past $176 billion, reaching levels last seen in 2022. With Tether (USDT) and USD Coin (USDC) leading the way, this rise shows how <a href="https://coinpedia.org/research-report/stablecoin-market-report-in-depth-analysis-and-insights/" target="_blank" rel="noreferrer noopener">stablecoins are quickly gaining traction</a> in the crypto space. Here’s what’s behind the growth and what it means for the future.</p>   
<h2 class="wp-block-heading" id="h-tether-s-hold-on-the-market">Tether’s Hold on the Market</h2>   
<p>Stablecoins have seen a remarkable 41.27% growth in market cap over the last year. From $125.08 billion on November 9, 2023, it has surged to $176.698 billion on November 9, 2024. Tether (USDT) dominates this space, holding 69.17% of the market share, with a market cap of $123 billion. </p>   
<p>While its 24-hour trading volume has slightly dropped, Tether continues to be the key liquidity provider for crypto traders. In fact, its market cap grew by 2.24% just in the past week, showing steady demand.</p>   
<figure class="wp-block-image aligncenter size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/09165148/USDT-rise-in-market-cap-over-the-year-1-1024x362.png" alt="rise in stable coin marketcap over the past year" class="wp-image-377884">
</figure>   
<p><strong>The Stablecoin of Choice! </strong></p>   
<p>Tether remains the go-to stablecoin, particularly in times of market uncertainty. Traders turn to it as a safe, reliable asset for quick transactions. Its stability makes it an essential tool in the crypto market, and Tether's dominance remains firmly in place.</p>   
<h2 class="wp-block-heading" id="h-usdc-gains-momentum">USDC Gains Momentum </h2>   
<p>Not far behind, USD Coin (USDC) saw its market cap grow by 7.06%, reaching $37 billion. This steady climb points to a growing acceptance of USDC, as more people choose it for transactions and storage of value. While Tether holds the largest share, USDC is catching on fast, especially with those who value its strong reputation for stability.</p>   
<p>The growth of USDC signals a shift in how stablecoins are being used. They’re no longer just tools for traders—they’re becoming important for everyday digital transactions.</p>   [post_titles_links postid="377819"]   
<h2 class="wp-block-heading" id="h-ethereum-and-tron-as-stablecoin-hubs">Ethereum and Tron as Stablecoin Hubs</h2>   
<p>Ethereum is the dominant platform for stablecoins, holding more than half of the total market at $89 billion. Its strong infrastructure makes it an ideal platform for stablecoin transactions. Behind Ethereum, Tron holds 33.9% of the market, with $60 billion in stablecoins, mostly USDT. While Ethereum leads, Tron’s presence is growing, especially among users who rely on USDT.</p>   
<figure class="wp-block-image aligncenter size-full">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/09164939/stable-coins-on-various-blockchains-1.png" alt="" class="wp-image-377882">
</figure>   
<p><a href="https://coinpedia.org/beginners-guide/binance-smart-chain-bsc/" target="_blank" rel="noreferrer noopener">Binance Smart Chain (BSC)</a> is also part of the stablecoin story, holding 3.07% of the total stablecoin supply, with USDT as the main stablecoin on this network. Each platform offers unique strengths, and the demand for stablecoins across multiple chains shows their broad appeal.</p>   
<h2 class="wp-block-heading" id="h-stablecoins-are-here-to-stay">Stablecoins Are Here to Stay</h2>   
<p>The stablecoin market continues to grow, with Tether and USDC leading the way, supported by platforms like Ethereum and Tron. As demand rises, stablecoins will likely play an even more significant role in the future of digital finance.</p>   
<p>They’re helping shape the way people interact with the crypto world, making it more stable and accessible to everyone.</p>

Stablecoin Market Hits $176 Billion: Tether and USDC Take the Lead!

Table of Contents

CoinPedia News

Other articles published on Nov 9, 2024

Bitcoin Warning : CryptoQuant Predicts 24 % Drop By Year-End

5 Best Cryptos to Buy This November With 10X Potential Before 2025

Bitcoin Fog Founder Sentenced to 12.5 Years in Prison in the US

BBC Spotlights XRP As Ripple CEO Calls for Regulatory Clarity

Dogen (DOGEN) Price Boom Ahead? DOGEN May Climb to $18, With Ripple (XRP) and Shiba Inu in Pursui...

Solana on the Rise: Can SOL Hit $250 in the Coming Week?

Join our free newsletter for daily crypto updates!