Bitcoin
BTC$65 050.15

-2.08%

Ethereum
ETH$3 405.15

-5.63%

Tether
USDT$1.000085

0.08%

Binance Coin
BNB$586.04

-3.53%

Solana
SOL$132.95

-10.70%

USD Coin
USDC$1.000242

0.02%

USDT, USDC, and BUSD represent 93% of stablecoin market cap


13 Apr 2021

#Tether

The three largest stablecoins represent a combined capitalization of $60 billion. Research from on-chain analytics provider Glassnode has revealed that the top three stablecoins represent more than 90% of the sector’s entire market cap. Glassnode’s April 13 “Week On-chain” report found that the top three stablecoins — Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) — have seen significant growth over the past six months to represent a combined capitalization of more than $60 billion, equal to 92.75% of the stablecoin market.

By contrast, six months ago the combined stablecoin capitalization for those three was less than one-third of its current levels at $19.2 billion. This time last year, stablecoins were worth just $7 billion combined.

The analysis compared the growth of stablecoins with Bitcoin’s market cap, identifying a clear correlation between the two. The report also found that USDT’s supply has continued to increase during recent weeks despite BTC trending sideways, whereas growth for USDC and BUSD has slowed.

BTC market cap vs stablecoin supply: Glassnode

The report notes historic lows for its Stablecoin Supply Ratio (SSR) metric, which measures Bitcoin’s market cap relative to the total stablecoin supply to estimate the global “buying power” of the stablecoin sector. When BTC prices are low, the supply of stablecoins can buy a larger portion of it to push prices up. Conversely, as prices increase the available stablecoins can purchase less which reduces the influence on prices. Glassnode concluded:

“The growth of stablecoin supplies throughout 2020-21 has held the SSR metric near historical lows suggesting a relatively high buying power of digitally native dollars. The demand for digital dollars appears to be keeping pace with demand for Bitcoin and cryptocurrencies as a whole.”

Tether’s market cap has over doubled since the beginning of 2021 to currently sit at a record $45.6 billion, according to the Tether transparency report. Circle’s website reported an all-time high of $11.5 billion USDC on April 9, while Goingecko estimated BUSD's supply to be $5.1 billion on April 13.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 89.2% 15 $65 050.15 -2.08% -5.31% $1 282 381 498 798 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 83.2% 23 $3 405.15 -5.63% -6.09% $416 371 407 438 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.2% 1 $1.000085 0.08% 0.03% $112 562 166 877 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 83.2% 25 $586.04 -3.53% -5.32% $86 490 719 528 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 76.8% 40 $132.95 -10.70% -15.37% $61 396 036 364 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 91.6% 3 $1.000242 0.02% 0.01% $32 548 547 004 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 83.2% 31 $0.482647 -0.76% -0.88% $26 820 915 414 XRP 7 days price change
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10 Cardano (ADA) ADA Cardano predictions 79.2% 40 $0.369609 -10.94% -15.02% $13 207 774 437 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 57.2% 94 $0.000018 -14.70% -21.16% $10 404 166 604 SHIB 7 days price change
12 Lido stETH (STETH) STETH Lido stETH predictions 93.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
13 Avalanche (AVAX) AVAX Avalanche predictions 68.8% 58 $26.01 -12.71% -18.07% $10 232 271 315 AVAX 7 days price change
14 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 88.4% 9 $0.114599 -2.57% -2.46% $10 018 572 668 WTRX 7 days price change
15 TRON (TRX) TRX TRON predictions 92.8% 9 $0.114477 -2.91% -2.55% $9 990 678 307 TRX 7 days price change

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