Despite the cryptocurrency market downturn, the total market capitalization of stablecoins remains high, with a growth of over 50% in January, surpassing USD1 billion

BlockBeats News, February 7th. In the past two weeks, the crypto market has turned cold, with the total cryptocurrency market cap quickly falling below $2.4 trillion. However, the stablecoin market cap remains high. According to DefiLlama data, the total stablecoin market cap is now reported to be $307.152 billion, still at a historical high.

Among them, USDT's market dominance has reached 60.28%. The WLFI-backed stablecoin USD1 has shown significant growth, with its circulating market cap increasing by 50.64% in the past month, now standing at $5.217 billion.