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The market capitalization of stablecoins refers to the combined value of different stablecoins whose performance remains productive throughout the day. There is a list of top stablecoins that have achieved a very impressive figure in market cap based on 24-hour volume. One of them has made a significant contribution to the stablecoin market capitalization.
Top stablecoins by market capitalization includes Tether ($USDT), USD Coin ($USDC), Ethena $USDe ($USDe), Dai ($DAI), World Liberty Financial USD ($USD1), PayPal USD ($PYUSD), Falcon USD ($USDf), Global Dollar ($USDG), and Ripple USD ($RLUSD). Tether ($USDT) is leading in the pack of top stablecoins with a clear distinction of $68.3B in 24H volume with a market cap of $183.6B, at the time of writing this article. The data is taken from coinmarketcap.
Tether ($USDT) Leads Stablecoin Market with 59.65% Dominance
One of the interesting and important things about the Tether ($USDT) is that it is contributing 59.65% $USDT Dominance of the total stable market cap of $314.39B. This remarkable figure explains the real value of $USDT in the entire stablecoin market. USD Coin ($USDC) is runner-up in this list with a market cap of $73.99B, with a last 24H volume of $9.49B. Ethena $USDe ($USDe) is also among the stablecoins with the third position in market cap of $6.22B, along with the volume of $133.5M.
Moreover, the next one is Dai ($DAI), who is successfully able to gain fourth position with 24H volume of $110.48M, having $5.3B market cap. World Liberty Financial USD ($USD1) has a market cap of $5.0B with $1.6B previous day volume. PayPal USD ($PYUSD) got a volume of $227.0M and $4.0B of market cap.
Falcon USD and Global Dollar Hold $1.6B Caps as $RLUSD Follows Close Behind
Falcon USD ($USDf) is at 7th position in the given list with a unique market cap of $1.6B along with a 24H volume of $1.23M. Global Dollar ($USDG) is the stablecoin that attained the second last position with a market cap of $1.6B and a volume of $23.8M. Last but not least, Ripple USD ($RLUSD) is also a stablecoin that attained the last position in the list with a market cap of $1.5B with a 24H volume of $102.62M.
The Total stable market cap is $314.39B, in which the stablecoins contribute to 13.55% os stable dominance. Tether is the only stablecoin that has its unique value and a major contribution of 59.65% toward stablecoin.