Stablecoin market cap surpasses $200B as USDC dominance rises
The stablecoin market cap reached a new record high above $200 billion. Is it a sign that Bitcoin and altcoins will rise higher?
The stablecoin market capitalization reached a record high following a period of consistent growth since mid-2023, according to data from Alphractal.
The data analysis platform reported on Jan. 31 that the stablecoin market cap rose 73% from $121.18 billion in August 2023 to reach an all-time high of $211 billion, while USDC (USDC) has been gaining an edge over other stablecoins.
Stablecoin market capitalization. Source: Alphractal
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Author: Nancy Lubale
