All major stablecoins $USDT, $USDC, $DAI increasing their caps, intotheblock says
According to statistics shared by IntoTheBlock, the aggregated capitalization of the three assets started growing shortly after the FTX/Alameda collapse. The drama of SBF-backed entities ended the prolonged"correction" of the stablecoin segment that started with the Terra crash in May 2022.
As displayed by CoinGecko, some smaller stablecoins demonstrated even more impressive supply upsurges. For instance, True USD's circulation is up 25% since mid-December and is ready to enter the 10-digit waters for the first time.The seventh largest stablecoin Pax Dollar has had its circulation increased by 5%, while Liquidity USD is one step away from the top 10 after a whopping 24% spike.
Typically, upsurges in stablecoin capitalization are a bullish signal for crypto markets' capitalization: traders need more stablecoins to push Bitcoin's and altcoins' prices higher. As covered by U.Today previously, seasoned analyst Charles Edwards stressed that stablecoins are a form of money"parked" within the crypto industry.
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