Stablecoin's Total Capitalization Has Surpassed That of Ethereum
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As before, USDT from Tether remains the unchanged leader among the stablecoins, at $143.3 billion or 60.6% of the total. USDC figures: $58.4 billion and 24.7% respectively.
Most USDT issued on Ethereum, at $75.9 billion; slightly fewer coins on Tron ($63.7 billion); Solana, $2 billion.
Despite lagging significantly behind the flagship, USDC is showing impressive momentum. According to the observations of CryptoRank, the total supply of the second most capitalized stablecoin has increased by 32%.
The Solana platform's share of the segment is also increasing.
”Since the beginning of the year, the supply of stablecoins in the Solana network has grown from $5 billion to $11.8 billion. The main share is occupied by USDC - $9.2 billion, which resembles the situation in the Base network, where this coin also dominates and accounts for 92% of the total volume,” experts noted.
A Universal Buy The Dip Is Coming?
Santiment analysts recorded a surge in onchain activity - on March 11, the number of USDT transfers reached a six-month high.
”When activity with USDT and other stablecoins grows amid falling prices, it is a signal: traders are preparing to buy. Additional pressure from buyers contributes to the recovery of quotations,” experts explained.
A similar opinion in conversation with Cointelegraph said CEO of Kronos Research Vincent Liu. He noted that traders often accumulate Tether stablecoin during market downturns to prepare for new entry points.
Nansen analysts recorded a series of ”whale” transfers of USDC to Coinbase (more than $700 million), admitting the preparation of major players for active purchases and subsequent market recovery.
Remind, the largest crypto exchange Binance will remove USDT and other non-MiCA compliant stablecoins on March 31.
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