The total issuance of well-known stablecoins has exceeded 23 billion USD, setting a new historical high.

robot
Abstract generation in progress

The latest data shows that the total issuance of a well-known stablecoin has once again reached a historical high, breaking the $23 billion mark. This figure is attributed to the recent issuance of 36,326,707 coins of the stablecoin. As of now, the total issuance of this stablecoin has reached $23,010,755,787, while its total transfer volume in the last 24 hours has reached $5,944,124,845.

Stablecoins, as an important part of the blockchain ecosystem, are often seen as the fiat currency equivalent in the digital world. Their value is typically pegged to fiat currencies, and this stability is primarily achieved through two methods: first, by having third-party institutions conduct audits to ensure sufficient fiat reserves are held as backing; second, by employing complex algorithmic mechanisms to maintain price stability. These characteristics make stablecoins play a crucial role in the cryptocurrency market, providing users with a choice that allows them to enjoy the advantages of blockchain technology while avoiding the risks of extreme volatility associated with cryptocurrencies.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
0/400
LiquidationKingvip
· 08-10 12:24
Printing money has become excessive.
View OriginalReply0
NervousFingersvip
· 08-09 15:35
There are really a lot of rich people... I've lost count.
View OriginalReply0
TokenVelocityvip
· 08-09 15:27
No one can withstand the printing press.
View OriginalReply0
GasBanditvip
· 08-09 15:16
The flood in the crypto world is coming.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)