The market capitalization of stablecoins consists of the combined value of different stablecoins whose performance remains admirable throughout the day. There is a list of top stablecoins that have a very impressive figure in market cap based on 24-hour volume. One of them has made a distinctive contribution to the stablecoin market capitalization. Phoenix has released this news through its official social media X account.
Tether ($USDT) Commands Over Half of the Global Stablecoin Market
Top stablecoins by market capitalization include Tether ($USDT), USDC ($USDC), Ethena USDe ($USDe), Dai ($DAI), World Liberty Financial USD ($USD1), PayPal USD ($PYUSD), Global Dollar ($USDG), Falcon USD ($USDf), and Ripple USD ($RLUSD). Tether ($USDT) gets first position in the pack of top stablecoins with a unique figure of $90.7B in 24H volume with a market cap of $183.9B, at the time of writing this article.
The notable thing about the Tether ($USDT) is that it is taking part 58.58% USDT Dominance of the total stable market cap of $320.06B. This unparalleled figure explains the real value of $USDT in the entire stablecoin market. USDC ($USDC) is at the second position in this list with a market cap of $78.2B, with a last 24H volume of $12.4B. Ethena USDe ($USDe) is also among the stablecoins with the third position in market cap of $5.9B, along with the volume of $147.8M.
Global Dollar and Falcon USD Join the Growing Stablecoin Ecosystem
Following this, the next one is Dai ($DAI), who is successfully able to gain fourth position with 24H volume of $114.9M, having $5.3B market cap. World Liberty Financial USD ($USD1) gets a market cap of $4.5B with $1.7B previous day volume. PayPal USD ($PYUSD) achieved a volume of $102.8M and $4.0B of market cap.
Global Dollar ($USDG) is at the 7th position in the given list with a remarkable market cap of $1.7B along with a 24H volume of $35.7M. Falcon USD ($USDf) is the stablecoin that attained the second last position with a market cap of $1.6B and a volume of $1.3M. Last but not least, Ripple USD ($RLUSD) is also a stablecoin that got the last position in the list with a market cap of $1.5B with a 24H volume of $140.4M. The Total stable market cap is $320.06B, in which the stablecoins take part to 13.31% of stable dominance.
