Bitcoin
BTC$29 850.43

-3.65%

Ethereum
ETH$2 027.90

-4.59%

Tether
USDT$0.998991

0.01%

USD Coin
USDC$1.000571

0.01%

Binance Coin
BNB$297.70

-3.06%

XRP
XRP$0.426717

-3.00%

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 65.6% 68 $29 850.43 -3.65% -4.26% $568 403 121 147 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64% 69 $2 027.90 -4.59% -11.93% $244 980 892 850 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.6% 1 $0.998991 0.01% -0.10% $75 675 664 066 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 92.8% 1 $1.000571 0.01% 0.07% $51 906 824 870 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 70% 67 $297.70 -3.06% -4.32% $48 607 072 077 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 68.8% 65 $0.426717 -3.00% -15.24% $20 628 827 463 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 67.2% 69 $0.563724 -4.15% -12.20% $19 027 115 441 ADA 7 days price change
8 Solana (SOL) SOL Solana predictions 59.6% 80 $54.76 -3.33% -18.25% $18 460 241 423 SOL 7 days price change
9 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $0.999628 -0.08% 0% $17 980 196 273 BUSD 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 67.2% 70 $0.087759 -4.13% -19.79% $11 643 053 987 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 62.4% 80 $10.70 -7.52% -5.91% $10 563 488 569 DOT 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 60% 82 $33.18 -7.71% -27.07% $8 928 026 857 AVAX 7 days price change
13 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 68.8% 68 $29 806.39 -3.61% -4.46% $8 465 131 079 WBTC 7 days price change
14 TRON (TRX) TRX TRON predictions 67.6% 65 $0.069523 -2.73% -9.07% $6 797 247 437 TRX 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64.8% 79 $0.000012 -5.29% -21.73% $6 634 444 793 SHIB 7 days price change

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