Thursday, September 28, 2023

The stablecoin sector has exhibited modest performance over the past month, oscillating marginally above or below a valuation of $124 billion. In the preceding 24-hour period, the worldwide trade volume for stablecoins, both fiat and commodity-pegged, amounted to approximately $11.55 billion.

Current State of the Stablecoin Market as of September 17, 2023

According to data from, the cumulative market capitalization of all stablecoins stands at $123.86 billion as of September 17, 2023. Tether (USDT), the predominant stablecoin by market value, maintains its leadership with a capitalization of $83,050,991,214. Over the last month, the supply of USDT has seen a moderate increase of 0.8%.

Top Five Stablecoins by Market Capitalization as of September 17, 2023

On the same date, the market capitalization of USD Coin (USDC) was $26.16 billion, showing a 0.6% supply increase compared to the preceding month. DAI’s supply has contracted by 1.1% in the past 30 days, culminating in a market capitalization of $3.84 billion. TrueUSD (TUSD) experienced a notable supply increase of 12.9% over the past month, taking its market value to $3.1 billion. Binance USD (BUSD) saw a substantial reduction in supply—23.8%—during the same timeframe, falling beneath the $3 billion threshold.

BUSD, now with a market capitalization of $2.49 billion, has become the fifth largest stablecoin by valuation. Trailing behind BUSD is Tron’s USDD, which has slightly increased by 0.7%, reaching a market cap of $724 million. FRAX, the stablecoin of Frax, has encountered a 16.5% supply reduction over the last month, resulting in a market capitalization of $669 million. Pax Dollar (USDP) has witnessed a modest decrease of 2.4% in supply over the last 30 days, with a current market capitalization approximately at $492 million.

Noteworthy Movements in the Stablecoin Sector

FDUSD recorded the most dramatic growth, surging 52.7% over the last month, bringing its market value to $393 million and accounting for approximately $136.72 million in 24-hour trading volume. Liquity USD (LUSD) saw a marginal decline in supply of 1.8% over the past month and currently has a market valuation close to $280 million.

Recent Trends and Current Market Stability

Despite experiencing considerable redemptions and reduced trading volumes in recent months, much like preceding periods, the stablecoin market is showing signs of stabilization. As of the latest data, redemptions have decelerated for most stablecoins, except for BUSD. The current 24-hour stablecoin trading volume of roughly $11.55 billion comprises 54.07% of the total crypto economy’s trading activity for the day, underscoring the sector’s relative stability.

Your insights and opinions on the stablecoin market’s activity over the last 30 days are welcomed. Please share your thoughts in the comments section below.

Frequently Asked Questions (FAQs) about Stablecoin Market Resilience

What is the primary focus of this article?

The primary focus of this article is to provide a comprehensive analysis of the stablecoin market as of September 17, 2023. It highlights the market’s resilience despite experiencing modest trading activity and volume fluctuations over the past 30 days.

Which stablecoin holds the top position by market capitalization as of September 17, 2023?

As of September 17, 2023, Tether (USDT) holds the top position in the stablecoin market with a market capitalization of $83,050,991,214.

How has the overall stablecoin market performed in the last 30 days?

The stablecoin market has demonstrated resilience despite modest performance over the past 30 days. The total market capitalization has oscillated marginally above or below the $124 billion mark, with a global trade volume reaching approximately $11.55 billion in the last 24 hours.

Which stablecoin has experienced the most significant growth over the past month?

FDUSD has recorded the most significant growth, surging by 52.7% over the past 30 days. Its market capitalization stands at $393 million as of September 17, 2023.

What portion of the day’s total crypto trading volume is accounted for by stablecoins?

Approximately 54.07% of the total crypto economy’s trading activity for the day is attributed to stablecoins, with a 24-hour trade volume of about $11.55 billion.

How have redemptions in the stablecoin market been trending recently?

Redemptions in the stablecoin market have generally slowed down, except for Binance USD (BUSD), which has seen a substantial decrease in supply. This deceleration indicates a relative stabilization in the market.

What are the key trends observed in the supply of top stablecoins?

USD Coin (USDC) and Tether (USDT) have seen slight increases in supply over the past month, while DAI and Pax Dollar (USDP) have witnessed minor decreases. TrueUSD (TUSD) has shown a notable increase, whereas Binance USD (BUSD) has experienced a significant decrease.

What sources are cited for the data presented in the article?

The primary source cited for the data in the article is, which provides up-to-date information on cryptocurrency market capitalizations.

More about Stablecoin Market Resilience


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Jenny_The_Trader September 18, 2023 - 4:13 am

Very comprehensive article. Found the part about redemptions slowing down quite informative. Seems like stablecoins are finally stablizing.

LisaB September 18, 2023 - 7:16 am

Excellent analysis, couldn’t have been more timely. Esp with crypto volatility, nice to have a deep dive on stablecoins.

Paul_Finance September 18, 2023 - 8:01 am

well researched and structured. would love to read more on how stablecoins impact the broader financial markets.

SarahCrypto September 18, 2023 - 12:57 pm

honestly, did anyone else notice how USD Coin is quietly catching up to Tether. Something’s cooking!

Mike_J September 18, 2023 - 10:27 pm

Great read! Lotta details here. Good to see stablecoins holding up, specially with all the market chaos lately.

CryptoGeek September 18, 2023 - 11:55 pm

So Binance USD is goin down huh. Wonder what’s up with that.

InvestorDude September 19, 2023 - 12:31 am

Didn’t expect FDUSD to grow that much! A 52.7% surge is insane, gotta look into this one.


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