In accordance with MetaEra, as of December 23 (UTC+8), CoinFound data shows the total stablecoin market cap has reached $320.47 billion. USDT leads with $198.93 billion, followed by USDC at $76.8 billion. Other stablecoins include USDS ($11.21 billion), USDe ($6.48 billion), PYUSD ($3.92 billion), and USD1 ($2.77 billion). Market developments include SoFi launching SoFiUSD, Shift4 launching a stablecoin settlement platform, and the Hong Kong Insurance Authority proposing a 100% risk charge on crypto assets. Circle has also minted $500 million USDC on Solana, and U.S. federal regulators have confirmed banks can engage in crypto-related activities.
Stablecoin Market Cap Reaches $320.47 Billion as USDT and USDC Dominate
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Summary
Stablecoin market cap hit $320.47 billion as of December 23 (UTC+8), according to CoinFound data. USDT leads with $198.93 billion, followed by USDC at $76.8 billion. Other stablecoins include USDS ($11.21 billion), USDe ($6.48 billion), PYUSD ($3.92 billion), and USD1 ($2.77 billion). Market performance saw SoFi launch SoFiUSD, Shift4 introduce a stablecoin settlement platform, and the Hong Kong Insurance Authority propose a 100% risk charge on crypto assets. Circle minted $500 million USDC on Solana, while U.S. regulators confirmed banks can engage in crypto activities.
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