Stablecoin market hits 2-year high of $183B amid Trump victory fueled optimism Insights Stablecoins
Stablecoin market hits 2-year high of $183B amid Trump victory fueled optimism
Tether leads stablecoin surge with $8 billion increase, boosting USDC to March 2023 levels.
The crypto market has witnessed a significant influx of about $10 billion in new capital following President Donald Trump’s victory in the US elections on Nov. 5.
DeFiLlama data shows that Tether’s USDT led the charge, rising $8 billion to a new record of $128 billion. Circle’s USDC followed closely, adding $2 billion to reach $37 billion — its highest level since March 2023.
The recent growth has pushed the overall stablecoin market supply to $183 billion, its highest value since March 2022. The increase signals a significant recovery from the market downturn seen during the crypto winter in the last two years. Since then, new players such as PayPal, BitGo, and Ripple have entered the stablecoin sector, contributing significantly to its expansion.
Market observers believe that the rise in stablecoin supply is a positive indicator for the broader crypto market, suggesting renewed investors’ interest in the ecosystem. Stablecoins, typically pegged to assets like the US dollar, serve as a reliable liquidity source and facilitate crypto trading.
Analyst 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
USD Coin
$0.99992
USD Coin (USDC) is a stablecoin fully backed by the US dollar and developed by the CENTRE consortium.
Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.
BitGo
BitGo is a market leader in institutional-grade cryptocurrency investment services, providing institutional investors with security, compliance, and custodial solutions for blockchain-based currencies.
Tether Limited
Tether Limited is the company that introduced Tether (USD₮ or USDT), an asset-backed cryptocurrency stablecoin, in 2014.
Circle
Circle Internet Financial Ltd is a global internet finance company, built on blockchain technology and powered by crypto assets.
