Stablecoin Market Surges with USDT Dominance and USDG Gains
- Tether’s USDT reached a market valuation of $189.63 billion on May 10, maintaining a dominant position with a 58.76% share of the stablecoin market.
- Circle’s USDC experienced a $1.61 billion inflow over seven days, bringing its market capitalization to $78.96 billion.
- USDG recorded the highest weekly increase among top stablecoins, surging by 11.89% to reach a $2.658 billion market cap.
- Sky’s DAI held steady with a slight increase of 0.63%, totaling $4.66 billion in market capitalization.
- Blackrock’s BUIDL and Circle’s USYC both showed growth, increasing by approximately $2 billion collectively in tokenized Treasury-backed products.
The stablecoin market has seen significant activity, with Tether’s USDT leading as the primary liquidity vehicle in the crypto economy and USDG gaining attention with its robust performance this week.
Overall, the stablecoin sector added approximately $2 billion in value over seven days, driven by strong performances from key players like USDT and USDG, indicating renewed interest in dollar-pegged crypto assets.()Source)
