Stablecoin Injected with Over $4.2B Amid Bull Market Frenzy

By Coin Edition
about 2 months ago
  • The stablecoin market has seen a $4.21 inflow within the last ten days.
  • Tether USDT accounted for a $2.4 billion inflow, mainly via the Tron blockchain.
  • Ethena Labs’ USDe climbed to a $2 billion valuation from below $600 million at the beginning of March.

The influx of capital into stablecoins has surged, with a staggering $4.21 billion injected into dollar-pegged cryptocurrencies within the last ten days. According to data from DefiLlama, the stablecoin market was about $150.42 billion as of Apri 1. The figure has grown by $4.21 billion to hit $154.63 at press time.

Of the $4.2 billion influx, Tether, the most prominent stablecoin issuer, accounted for $2.4 billion in USDT. Notably, most of the USDT tokens were issued via the Tron blockchain. At press time, Tether commands $107.28 billion of the stablecoin market. 

However, Circle’s USDC, while maintaining its standing as the second-largest stablecoin, has seen comparatively modest growth. While stalwarts like USDT and USDC remain dominant, new contenders are gaining traction. 

For instance, First Digital USD (FDUSD) grew from $2.17 billion at…

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