Stablecoin

United

Ethena

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/stablecoin-market-reaches-record-highs-following-recent-events/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Stablecoin Market Reaches Record Highs Following Recent Events</a> 
The total supply of digital tokens known as stablecoins, typically pegged to the US dollar, has reached a record high of $174.7 billion. According to data from the blockchain analytics company Artemis, a significant portion of this increase occurred after the elections in the United States. Since Election Day on November 5, the total market value of stablecoins has grown by approximately 6%.
<h2 style="text-align: justify" id="strong-tether-and-usdt-take-the-lead-strong">Tether and USDT Take the Lead</h2>
Much of the growth in the stablecoin market is driven by <a href="https://en.coin-turk.com/quantoz-launches-two-mica-compliant-stablecoins-with-tethers-support/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tether</a>, the provider of USDT. Since November 5, the supply of USDT has increased by $7.6 billion, accounting for 77% of the new stablecoins added to the <a href="https://en.coin-turk.com/bitcoin-btc-falls-below-26000-level/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a>. This growth indicates rapid adoption of stablecoins not only by individual users but also by institutional users.
Alexander Cutler, a key contributor to the Aerodrome exchange, noted that the global reach, low transaction fees, and instant transfer advantages provided by stablecoins have triggered this growth. Cutler stated, “Stablecoins are one of the best examples of product-market fit in the on-chain economy. When you offer a better product, adoption is just a matter of time.”
<h2 style="text-align: justify" id="strong-innovative-stablecoin-solutions-and-increasing-competition-strong">Innovative Stablecoin Solutions and Increasing Competition</h2>
Innovation and competition in the stablecoin market are rapidly increasing. Ripple has announced the development of a new stablecoin for institutional users, while <a href="https://en.coin-turk.com/binance-continues-to-thrive-in-the-cryptocurrency-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> has introduced BFUSD, a margin asset for futures trading users. The Binance Futures team explained that the rewards provided by BFUSD would come from delta-hedged positions and staking income.
Another growing stablecoin, the USDe token from Ethena Labs, has also gained attention. Backed by an investment from Binance Labs, USDe has increased its market value from $2.8 billion to $3.5 billion since November 5, marking a 24% growth.
Alexander Cutler emphasized that the use of stablecoins is still in its early stages. He also expressed that thanks to the high composability of stablecoins on blockchain, they can be utilized in various financial activities.
These developments in the stablecoin market provide liquidity to the crypto ecosystem while offering users more flexibility and options. This process also significantly contributes to the overall growth of the sector.
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Stablecoin Market Reaches Record Highs Following Recent Events

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