The stablecoin market value is around $200 billion

The stablecoin market value has risen to high levels after regaining the momentum lost due to the famous TUSD crash of 2022.

Data from DeFiLlama shows that the total market value of stablecoins reached $190 billion last Sunday, registering an increase of 46% since the beginning of this year.

Greater role in global trade payments

A stable is a type of Cryptocurrency Which aims to keep a fixed price tied to paper money, and the US dollar is usually chosen for this type of peg. Hopes are now growing that it could play a larger role in global trade, particularly as a tool for cross-border payments. Although it was previously used mainly as a way to transfer money in and out of the other cryptocurrency markets.

Tether, the world’s largest stablecoin issuer, has registered…USDT“, increasing the trading volume of its currency to about 133 billion dollars, which accounts for 70% of the total stable currency market. The company is trying to expand the use of “USDT” by ‘ move to new sectors, including basic goods, as recently announced Funding of the first crude oil contract In the Middle East region.

Meanwhile, fintech giant Stripe, valued at $70 billion, announced last October that it plans to acquire stablecoin startup Bridge for $1.1 billion, in what is considered one of the acquisitions largest crypto asset company ever. Traditional companies from the financial sector also joined, such asPayPal payment“to this area.

Adoption of a stable by these institutions could help avoid a severe market downturn after the Terra USD currency crisis in May 2022. The collapse of that coin led to the Terra USD blockchain platform being linked. As you want to gothere was a $19 billion hole in the stable market, which took more than two and a half years ago.

Positive effects of Trump’s victory

This latest increase in stability coincides with a resurgence in the cryptocurrency market fueled by Foz Donald Trump In the US presidential elections. Despite his previously questionable stance on the region, Trump has won this support by promising to implement more supportive policies.

The total value of the crypto asset market has increased by nearly $1 trillion since the election, according to CoinGecko data. And I arrived Bitcointhe market’s main benchmark, near the $100,000 level last week before pulling back. It was trading at $93,377 at 8:22 a.m. Wednesday, London time.