Stablecoin rankings deepen structural changes as they surpass $300 billion in size

According to the latest DeFi data, the stablecoin market has reached a new milestone. Industry data tracking platforms indicate that the total market capitalization of stablecoins has already surpassed $30 billion. The current rankings of stablecoins clearly reflect the market dynamics and hold an important position within the overall cryptocurrency market.

Absolute Dominance of USDT, Maintaining Market Leadership

The most notable aspect of the stablecoin rankings is USDT’s overwhelming dominance. USDT holds over 60% of the total stablecoin market share, with a market capitalization remaining in the vicinity of $180 billion. These figures indicate that USDT still maintains an absolute position in the stablecoin market. Despite the emergence of alternatives, USDT’s market dominance remains unshaken.

USDC Growth and a Diversified Stablecoin Ecosystem

USDC ranks second among stablecoins, with a recent market cap of approximately $7.3 billion. Although it experienced slight volatility over the past week, USDC continues to serve as an important alternative stablecoin. Notably, emerging stablecoins such as USDe, USDS, and DAI are gaining traction, each recording market caps around $6 billion, $4 billion, and more, demonstrating increasing diversification within the stablecoin ecosystem.

Changes in Stablecoin Rankings Reflect Market Maturity

The overall stablecoin market increased by 0.87% last week. This indicates that the cryptocurrency market is increasingly recognizing the importance of stable value storage. The diversification trend in stablecoin rankings reflects not just intensified competition but also the need for various stablecoins with different uses and characteristics. Along with the growth of decentralized financial infrastructure, the stablecoin market continues to evolve.