$11 Billion Added to Stablecoin Economy in 10 Days, UST and OUSD Issuance Swells

During the last week of November, the stablecoin economy had crossed the $150 billion mark for the first time with tether and usd coin dominating the pack. In a mere ten days, the stablecoin economy gathered another $11 billion in value with origin dollar and terra usd swelling significantly during the last 30 days.
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Stablecoins are definitely a prominent part of the crypto industry whether people like them or not. In ten days’ time, the entire stablecoin economy has grown 7.33% larger from $150 billion to today’s $161.2 billion.

Month after month, stablecoin markets have swelled, and the token tether (USDT) is the largest stablecoin in terms of market valuation. Statistics indicate that USDT has a market valuation of around $77.3 billion and its market cap grew 6.1% during the last month.
In terms of the stablecoin economy alone, the two tokens USDT and USDC command 73.21% of the aggregate $161 billion in fiat-pegged tokens. While tether captures most of the trade volume, USDC commands the third-largest stablecoin trade volume below BUSD.
The algorithmic stablecoin UST has a valuation of around $8.3 billion today and $178 million in global trade volume. UST’s market capitalization is just below DAI’s $8.95 billion valuation. The Terra-issued algorithmic stablecoin is also above Abracadabra.money’s magic internet money (MIM) and its $3.7 billion market.

Other stablecoins that saw notable 30-day movements include frax, pax dollar, and liquity usd. In addition to fiat-pegged tokens tied to the value of USD, a slew of stablecoins based on different fiat currencies, like the euro and Turkish lira, have seen significant 30-day growth as well.