The stablecoin sector continues to display notable traction across the globe. Particularly, $USDT, $USDC, and $USDe are leading the list of top stablecoins in terms of market capitalization. As per the data from Phoenix Group, the rising growth of the stablecoin world has pushed its total market capitalization to the staggering $317.40B. Hence, this wider adoption highlights the potential of a considerable stabecoin rise in the future, while this market occupies 10.83% of the crypto market.
$USDT Leads Stablecoin Sector as Market Cap Hits $186.7B with 60.53% Dominance
Tether ($USDT) claims the top position among the stablecoins. In this respect, its market capitalization has reached the $186.7B. In addition to this, the 24-hour volume of $USDT is now standing at $75.1B, strengthening its role as the most trusted asset among retail and institutional alike. At the same time, the top stablecoin accounts for a huge 60.53% market dominance.
Subsequently, $USDC is 2nd top name within the stablecoin sector. Specifically, the stablecoin has reached the $76.7B mark in terms of market capitalization. Additionally, $USDC’s 24-hour volume stands at $10.8B. In the 3rd position is $USDe, having a market capitalization of up to $6.3B. Along with that, its 24-hour volume has touched $121.9M.
$DAI, $PYUSD, and $USD1 Follow Stablecoin Leaders
The 4th top stablecoin is $DAI when it comes to market capitalization. Thus, $DAI’s market cap is currently sitting at $5.3B. In parallel, $DAI’s 24-hour volume has hit $113.0M. Coming after that, $PYUSD has attained a market cap of nearly $3.8B while the 24-hour volume thereof is $79.0M. Next, $USD1 has claimed the 6th spot, with its market cap and 24-hour volume hovering around $2.8B and $1.8B, respectively.
Moving on, Phoenix Group’s list of prominent stablecoins adds $USDf in the 7th mark. In this position, $USDf reportedly has a $2.1B in its market capitalization. Simultaneously, its 24-hour volume is almost $1.0M. After that, $USDG’s 24-hour volume and market cap have claimed that $26.7M and $1.5B, respectively. At the end of the list is $RLUSD with $1.3B in its market cap and $66.7M in its 24-hour volume.
