Odaily experiences that Tether’s stablecoin USDT has reached a market cap of $186 billion, surpassing Ethereum to become the second-largest cryptocurrency by market capitalization. Ethereum’s market cap fell under $185 billion after its value dropped 5.2% inside 24 hours, at one level falling to $1,510.
The present market cap of stablecoins accounts for practically 15% of the complete cryptocurrency market cap. 21Shares famous that stablecoin provide dropped by over 30% throughout the earlier bear market however has now reached an all-time excessive this cycle. Circle’s USDC market cap has additionally surpassed Ripple’s XRP; XRP’s market cap has fallen to $64 billion, whereas USDC’s market cap stands at $73.6 billion. (Cointelegraph)
