Over the Past 30 Days, Stablecoin Market Added $7.719 Billion in February

Data reveals the stablecoin market experienced significant expansion, with USDS leading the growth. Its circulating supply increased by 63.68% since the month’s start, outpacing competitors.

February’s Stablecoin Growth Sees a $7.719 Billion Rise

Despite a broader decline in cryptocurrency values, the fiat-backed digital asset ecosystem continues its upward trend, according to defillama.com. Tether (USDT) leads with a valuation of $142.579 billion, accounting for 63.37% of the total stablecoin market worth approximately $225 billion. USDT’s supply rose by $2.5 billion since January 31, showcasing its robust performance.

Source: Defillama stablecoin overview.

Circle’s USDC also followed this upward trajectory, increasing by 7.33% in the past 30 days, equating to a $3.85 billion rise. On the other hand, Ethena’s USDe, the third largest stablecoin, saw a drop of $154.87 million, a 2.63% decrease in its circulating supply. Currently, USDC has a market capitalization of $56.422 billion and USDe is valued at $5.72 billion.

DAI experienced significant outflows, losing $356 million this month, with a total market cap at $4.34 billion. In contrast, Sky’s USDS rose by $1.653 billion, achieving a 63.68% increase since January 31, bringing its valuation to $4.248 billion. Additionally, Paypal’s PYUSD grew by 49.32% over the last month, stabilizing its market cap near $753.61 million after an influx of $248.9 million.

February’s stablecoin dynamics highlight a market shaped by differing strategies. Established players maintain user confidence while newer entrants pursue volatility. This interaction illustrates an evolving ecosystem where the fluctuations in the crypto market influence the landscape, indicating broader shifts in digital finance as participants manage liquidity and strive for competitive edge in a maturing sector.