📉The stablecoin market has continuously decreased in price over the past 18 months, market capitalization dropped to $123.8 billion, the lowest since September 2021, according to Binance Research.

📈However, two popular virtual currencies in this group - Tether (USDT) and DAI - have recorded a slight increase.

🥇USDT maintained its leading position with a rate of 67.2%, market capitalization increased by $334.7 million, up 0.4% over the previous month. This increase is partly due to increased demand for stablecoins on cryptocurrency exchanges.

🥉DAI, the third largest stablecoin in terms of market capitalization, has also seen significant growth recently. Binance Research said the MakerDAO-owned stablecoin grew $283.4 million in market capitalization, up 5.4% month over month.

🌐Despite bearish trends, the stablecoin market still plays an important role in the cryptocurrency space and the global financial system.