Stablecoin valuations continue to inflate, and the market value of MIM and MUSD increased by three digits in 30 days – Altcoin Bitcoin News


In mid-October, the market value of all existing stablecoins was US$134 billion, and in the past three weeks, the valuation increased by 5.59% to US$141.5 billion. Although the market value of terrausd rose by 6.7% last month, the stablecoin DAI rose by 27.3% in 30 days. The largest stablecoin by market capitalization increased by 6% this month, and the total number of Tether in circulation today reaches 73 billion.

The capitalization of stablecoins increased by 5.59% last month-Makerdao’s stablecoins increased by 27%

On October 13, 2021, the market value of the largest stablecoin held by Tether was US$70.9 billion, and it is now US$73 billion. The stablecoin market USDC is 33.3 billion U.S. dollars, and today it is 34.2 billion U.S. dollars. Although the tethered (USDT) The market value jumped 6% last month, and USDC rose slightly, with a 30-day increase of 5.8%.

Among the top five stablecoins in overall valuation, the stablecoin DAI issued by Makerdao saw the largest increase, rising by 27.3% last month. Terrausd is a stablecoin issued by the Terra network. It has risen by 6.7% in the past month and is the second largest stock in 30 days.

Mstableusd, the magical Internet currency sees triple-digit growth-over time, KLIMA Rebase tokens rise

An outlier among the sixth-ranked top stablecoins is the Magic Internet Currency (MIM), which has grown by 152.3% in 30 days. The market value of the MIM stablecoin issued by abracadabra.money is US$2.5 billion, with a 24-hour transaction volume of US$112 million. At the time of writing, the AVAX-based decentralized exchange (dex) platform Trader Joe is the most active MIM exchange. Although MIM rose by 152% last month, it was the second largest increase because mstableusd (MUSD) rose by 379.4%.

The current market value of MUSD is 139.3 million U.S. dollars, and the global transaction volume is 2 million U.S. dollars. Although the market value of top stablecoins has increased, their sibling agreement-rebase tokens-has also increased. However, in the past 7 days, Olympus (OHM), the highest rebase (reserve token), has fallen by 25.5%. The second and third largest rebase tokens wonderland (TIME) and klima dao (KLIMA) have both increased. TIME’s 7-day statistics increased by 38.5%, and KLIMA’s weekly indicators increased by 10.5%.

What do you think of the ever-expanding stablecoin market valuation and the rise of rebase tokens? Please tell us your thoughts on this topic in the comments section below.

Tags in this story

DAI, Tokens pegged to the U.S. dollar, climate, The magical internet currency, makerdao, I, MUSD, ohm, Rebase token, Stablecoin, Stablecoin ceiling, Stable coin circulation, Stablecoin market, Stablecoin, Earth, Tyra dollar, Tether, time, Trade volume, USDC, USDT

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