The third-largest asset in market cap has maintained its lead in stablecoin adoption. Notwithstanding happenings on host blockchains differed.
At press time, the Bitcoin Stablecoin Supply Ratio was low at 4.08. The metric serves as a measure of theWhen the SSR is high, it means that the current stablecoin supply does not have the buying power to purchase BTC. But since the average buying power was less than average, it implied that there was enough stablecoin supply to attend to BTC’s demand.
With respect to Ethereum, the top five stablecoins were not exactly commanding. In comparing the dominance here, on-chain dataTUSD’s market cap in USDT terms Market capitalization refers to the multiplication of an asset price by the maximum supply, whether circulating, locked, or burned. Needless to say, it is important to track this metric especially as stablecoins have other blockchains as their host.
As of this writing, Ethereum’s market cap was well over $215 billion. The top stablecoins, on the other hand, had a market cap of $125 billion. This means that Ethereum dominated, leaving the stablecoin dominance in the negative.
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