Stablecoin Sees Counter-trend Growth, Total Market Cap Up 0.43% Weekly to Hit Record High

BlockBeats News, April 4th. Despite a downturn in the crypto market, stablecoins continue to grow rapidly. According to DefiLlama data, the total market capitalization of stablecoins has increased by 0.43% in the past week, with a circulating market capitalization of $317.255 billion, reaching a new all-time high.

Meanwhile, USDT's market dominance continues to decline, falling below 60% to its current value of 58.03%. The stablecoin USDS, under the Sky network, has seen significant growth, with a circulating market capitalization increase of 9.57% in the past week. The circulating market capitalization now stands at $8.924 billion, making it the third largest market cap stablecoin.