The capitalization of stablecoins has risen above $160 billion

On April 23, 2024, the total market capitalization of stablecoins crossed the $160 billion mark, according to CoinGecko. The daily trading volume of stablecoins has grown above $34.5 billion.

The largest stablecoin in terms of market capitalization is Tether's USDT, which has almost $110 billion. USDC is in second place with $33.8 billion, and DAI is in third place with $5.25 billion.

It should be noted that according to the DeFiLlama analytical panel, the capitalization of stablecoins is $157.49 billion, and USDT dominates with 69.99%.

It can be seen that the capitalization of stablecoins is growing by $10 billion every month. In February 2024, this figure was $140 billion, and in March - $150 billion.

Earlier, on April 17, 2024, U.S. Senators Kirsten Gillibrand and Cynthia Lummis introduced a bill to regulate stablecoins.