- Tether (USDT) holds 71.4% market share, adopted by USDC and Dai.
- Non-USD stablecoins solely make up 1% of the market.
- The market cap grew from $5.2 billion in 2020 to $150.1 billion in 2022 and has been rising steadily since then.
Within the latest reveal of the 2024 Actual World Asset Report, the crypto market is witnessing a big dominance of USD-pegged stablecoins, which stay on the forefront of actual asset (RWA) adoption within the digital financial system.
The report’s key findings point out that almost all of the RWA market is presently occupied by stablecoins pegged to the US greenback. On the prime of the chart is Tether (USDT), which boasts a staggering market cap of $96.1 billion, intently adopted by USDC at $26.8 billion and Dai at $4.9 billion.
Notably, Tether maintains a dominant 71.4% market share and maintains its place on this house. The USDC remains to be making an attempt to regain its misplaced positions after a quick de-pegging incident through the US banking disaster in March 2023.
Digging deeper into the panorama, the report reveals the cruel actuality of minimal diversification outdoors of USD-pegged stablecoins. Different unhedged stablecoins equivalent to Euro Tether (EURT), CNH Tether (CNHT), Mexican Peso Tether (MXNT), EURC (EURC), Stasis Euro (EURS) and BiLira (TRYB) collectively account for simply 1% market share.
The report additional sheds gentle on the trajectory of secure market capitalization of property through the years. From a modest $5.2 billion in early 2020, the stablecoin market grew to an surprising peak of $150.1 billion in March 2022, however then declined because of market fluctuations.
The yr 2024 marks a resurgence for the stablecoin, with market capitalization rising 4.9% from $128.2 billion at the beginning of the yr to $134.6 billion as of February 1.
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