After falling from a peak of 309 billion USD at the end of October to a low of 302 billion USD on November 22, the stablecoin economy is gradually bouncing back. Over the past seven days, the entire sector has attracted an additional 3.087 billion USD, bringing new life to the market.
According to data from defillama.com on November 30, the total market value of stablecoins currently stands at 306.157 billion USD. Tether (USDT) still leads with a market capitalization of 184.595 billion USD, accounting for 60.29% of the entire industry, recording a slight increase of 61.76 million USD over the week, equivalent to 0.03%.
Meanwhile, USDC stands out with a rise of 2.681 billion USD, bringing the total market capitalization to 76.242 billion USD. Some other coins have fluctuated as follows:
- The USDe of Ethena fell 2.88% to 7.205 billion USD.
- Sky Dollar (USDS) increased by 2.45% to 5.874 billion USD.
- DAI increased slightly by 0.64%, reaching 4.752 billion USD.
- PYUSD of Paypal increased by 7.08% to 3.86 billion USD.
Other stablecoins in the top 11 also have adjustments:
- USD1 of the DeFi project World Liberty Financial increased by 1.02% to 2.757 billion USD.
- USDf of Falcon Finance increased by 0.09% to reach 2.084 billion USD.
- Blackrock's BUIDL fell 16.36% to 1.798 billion USD.
- Ethena's USDtb fell 0.20% to 1.339 billion USD.
- Ripple's RLUSD increased by 8.98% reaching 1.26 billion USD.
Overall, the recent short-term fall has not left a significant impact, and the recent bounce back indicates a more solid market foundation than expected. The flow of capital back into fiat-linked tokens may bring new liquidity and confidence to the crypto market in general. If this trend continues, it could set the stage for a stronger quarter-end.
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