Data: The total market value of stablecoins has surpassed 23 billion USD for the first time

ChainCatcher news, according to The Block, on Thursday, amid efforts by U.S. regulators to promote the adoption of stablecoins, the total market capitalization of stablecoins surpassed $230 billion for the first time. According to data from DefiLlama, the current total market capitalization is $230.45 billion, an increase of $2.3 billion in the past week. Compared to the same period last year, the market capitalization of stablecoins has grown by 56%.

In the overall market capitalization, Tether's USDT stablecoin dominates, with a market cap of nearly $144 billion, accounting for 62.6%, followed by Circle's USDC, with a market cap of $59 billion.