{"id":16036,"date":"2022-05-07T07:27:38","date_gmt":"2022-05-07T07:27:38","guid":{"rendered":"http:\/\/egrowonline.com\/?p=16036"},"modified":"2022-05-07T07:27:38","modified_gmt":"2022-05-07T07:27:38","slug":"3-stablecoins-command-positions-in-the-crypto-economys-top-10-another-fiat-pegged-token-is-close-to-joining-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=16036","title":{"rendered":"3 Stablecoins Command Positions in the Crypto Economy\u2019s Top 10, Another Fiat-Pegged Token Is Close to Joining \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"


\n<\/p>\n

\n
\n<\/header>\n
\n\"3\n<\/div>\n

The last five weeks has been brutal for digital currencies as more than 21% has been shaved off the crypto economy\u2019s fiat value since March 27. While all the crypto assets combined shed roughly 0.8% in the last 24 hours, bitcoin has lost 9.4% since last week and seven day statistics show ethereum has dropped 8.1% against the U.S. dollar. Since the crypto economy\u2019s significant losses, the stablecoin UST has managed to take the top ten market capitalization among 13,439 crypto assets.<\/strong><\/p>\n

3 Stablecoins Hold Top 10 Positions, Terrausd Enters the 10th Spot<\/h2>\n

Today, three stablecoins now command a position in the top ten largest cryptocurrency market capitalizations. While tether (USDT<\/a>) and usd coin (USDC) have been in the top ten for quite some time, Terra\u2019s UST is now holding the top ten spot since the crypto economy\u2019s market conditions turned red. Another fundamental that pushed UST higher is the fact that the algorithmic stablecoin\u2019s market valuation expanded by 12.3% over the last 30 days.<\/p>\n

\"3
It is the first time in crypto history that three stablecoin market valuations have existed in the top ten market cap positions.<\/figcaption><\/figure>\n

There hasnt been another time when three stablecoins command a top ten position and fiat-pegged tokens have been a prominent force in the crypto ecosystem. Tether (USDT<\/a>) has a significantly large $83.3 billion market capitalization, which represents 4.78% of the entire crypto economy.<\/p>\n

USDC has $48.7 billion market capitalization, which equates to 2.79% of the $1.7 trillion crypto economy. Terrausd (UST) has a valuation of around $18.76 billion and it represents 1.07% of the aggregate value of all 13,439 crypto assets combined.<\/p>\n

5 Crypto Assets Represent 66.44% of the Crypto Economy, BUSD and DAI Hold Positions in the Top 20<\/h2>\n

Between all three of the stablecoins in the top ten, USDT<\/a>, USDC, and UST represent 8.64% of the crypto economy\u2019s fiat value. That\u2019s pretty large seeing how bitcoin\u2019s (BTC<\/a>) market valuation is 39.2% and ethereum\u2019s (ETH<\/a>) capitalization is 18.6% of today\u2019s $1.7 trillion total.<\/p>\n

BTC<\/a>, ETH<\/a>, USDT<\/a>, USDC, and UST equate to 66.44% of the entire crypto economy\u2019s capitalization on May 6, 2022. In addition to the prominence of three stablecoins in the top ten crypto market positions, the Binance stablecoin BUSD is currently in the 11th spot with a $17.5 billion market cap.<\/p>\n

Besides USDT<\/a>, USDC, and UST, there\u2019s only two stablecoin projects in the top 20 largest crypto market valuations. The stablecoins include BUSD and Makerdao\u2019s decentralized stablecoin DAI.<\/p>\n

Years ago when stablecoins were scoffed at and taken for granted, it\u2019s likely no one thought the fiat-pegged token project\u2019s would be top ten contenders. Furthermore, the entire lot of stablecoins today is worth $189.52 billion. Out of today\u2019s $110.46 billion in global trade volume, stablecoin swaps represent $75.82 billion of Friday\u2019s volume.<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
$1.7 trillion<\/a>, Bitcoin<\/a>, BTC<\/a>, BUSD<\/a>, Capitalizations<\/a>, crypto economy<\/a>, Cryptocurrency<\/a>, Digital Currencies<\/a>, ETH<\/a>, Ethereum<\/a>, fiat-pegged tokens<\/a>, Market Capitalizations<\/a>, market positions<\/a>, stablecoin assets<\/a>, Stablecoins<\/a>, TerraUSD<\/a>, Tether<\/a>, Top Ten<\/a>, top ten contenders<\/a>, usd coin<\/a>, USDC<\/a>, UST<\/a><\/div>\n<\/div>\n

What do you think about the fact that three stablecoins are now top ten contenders? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n