Over the past 90 days, the stablecoin economy has expanded by over 11%, with $16.23 billion infused into the market of fiat-pegged crypto tokens. In the last 30 days, one of the fourth-largest U.S. dollar-pegged coins experienced a 46.1% increase in its supply.
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Stablecoin Market Surges Over the Last 90 Days
While the past month has seen minimal growth in the stablecoin economy, the previous 90 days have witnessed an influx of $16.23 billion. For instance, on March 11, the market cap of a leading stablecoin was $101.18 billion, which has since climbed to $112.5 billion. This indicates that over this period, the supply of this stablecoin increased by $11.32 billion.
As a result, this stablecoin accounted for more than 69% of the $16.23 billion entering the stablecoin market over the last 90 days. Over the past month, its supply has risen by 1.3%. Meanwhile, another major stablecoin experienced a 2.7% decline over the last month, yet it showed growth over the 90-day span, moving from a market cap of $29.88 billion on March 11 to $32.23 billion today.
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Another well-known stablecoin, with a market valuation of $4.55 billion 90 days ago, has reached $5.26 billion today, despite a 3% decrease over the past month. A different stablecoin, which was the sixth-largest by market cap 90 days ago, has now risen to fourth place. At that time, it had a market cap of $848 million following a 334% increase in 30 days.
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Currently, this stablecoin’s market cap has risen to $3.36 billion, with its supply increasing by 46.1% in the past month. Another stablecoin, which ranked fourth in market cap on March 11, has slipped to fifth place, with a 14.2% reduction over the last 30 days, bringing its market cap to $3.27 billion, just below the former’s.
What are your thoughts on the growth of the stablecoin market over the past 90 and 30 days? Share your opinions in the comments section below.