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Stablecoins reach record market value of US$191.6 billion in 2024
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THE global stablecoin market reached a new level, with Tether (USDT) and USD Coin (USDC) dominating the sector.
According to a Bloomberg report, based on data from the DeFi platform Llama, the market value of stablecoins presented a increase of 46% in 2024, reaching a record of approximately US$191.6 billion to date.
THE Tetherthe largest issuer of stablecoins in the world, had its USDT currency reaching a circulation of approximately US$133 billionwhich represents 69% of the global market.
Meanwhile, the USD Coin (USDC)issued by Circle, reached a market value of US$39.5 billionan increase compared to the US$24 billion in circulation at the end of 2023. USDC now holds 21% of the global market.
Stablecoins in Brazil
After the fall of TerraUSD in 2022, which generated a collapse of US$19 billion in the stablecoins market, the sector recovered strength and reached US$170 billion in August 2024.
This growth was related to factors such as the favorable stance of the US president-elect, donald trumpin relation to cryptocurrencies, which helped to raise the prices of several digital assets.
Bitcoin, for example, has surpassed US$99 thousandwhile the total value of the crypto market increased by US$0.88 trillion since Trump’s victory.
The use of stablecoins in international transactions has gained relevance. Tether recently completed its first crude oil transaction, connecting a publicly listed oil company in the Middle East with a major commodities trader.
In the UK, regulatory changes scheduled for 2025 may also favor stable cryptocurrencies, according to economic secretary Tulip Siddiq. The government’s proposal aims to create a regulatory framework for stablecoins, continuing the plan outlined by the previous administration.
In addition, there is an expectation that there will be some relaxation of the Financial Conduct Authority’s (FCA) strict rules for registering crypto companies.
Stablecoins reach record market value of US$191.6 billion in 2024
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Stablecoins reach record market value of US$191.6 billion in 2024
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Stablecoins reach record market value of US$191.6 billion in 2024
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Stablecoins reach record market value of US$191.6 billion in 2024
