Market Cap of Stablecoin Market Exceeds $134B

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As of November, the market supply of stablecoins totaled $126 billion. By December 7, it had increased to $133.76 billion, per CoinGecko data.

This week, Tether’s capitalization surpassed $90 billion, accounting for 71.45% of the stablecoin market. The market shares of USD Coin (USDC) and DAI, the second and third largest fiat-backed digital currencies, fell to 19.28% and 4.26%, respectively.

Over the past month, the supply of USDT has grown by 6%, and over the past year, it has increased by over 35% from $66.24 billion to $90.044 billion.

This suggests that more capital is entering the cryptocurrency market and preparing for a new bull season. The number of active USDT addresses with balances has also increased from 231,000 to 245,800 in the past two months.

Additionally, the use of Tether in smart contracts has gone up from $4 billion to more than $6 billion, according to data from Block Research.