On March 21, the market capitalization of stablecoins reached $150 billion for the primary time in 18 months.
In response to CoinGecko, along with the expansion of market capitalization to $150.5 billion, day by day buying and selling quantity for the asset class approached $122 billion.
![Stablecoin market capitalization sets record, surpasses $150b mark - 1](https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-21-at-19.33.14-1024x559.png)
The undisputed chief on this class is Tether (USDT), which has 70% dominance. The second largest stablecoin, USD Coin (USDC), has a market capitalization of $31.8 billion, giving Circle‘s stablecoin a market share of over 20%. In third place is DAI, which had $4.7 billion and three% of the market share on the time of writing.
The crypto group believes that the rise in stablecoins‘ market capitalization is an optimistic sign for additional market progress.
Specifically, stablecoins fulfill a market want if they’ve such a big market capitalization.
Earlier in March, score company S&P International Scores launched its ninth stability score for the stablecoins USDC, USDT, DAI, FDUSD, FRAX, USDM, GUSD, USDP and TUSD.
USDC, USDP, and GUSD had been rated “sturdy,” whereas solely USDM from Mountain Protocol was rated “sufficient”. Stablecoins USDT, DAI, and FDUSD had been known as “constrained.”
The best threat and lowest valued had been FRAX and TUSD. Not one of the listed property acquired the best rating within the present rating.