Author | Qin Xiaofeng
Editor | Hao Fangzhou
Editor | Hao Fangzhou
Main points:
Produced | Odaily
Main points:
As of September 1, the total market value of stablecoins reached $153.5 billion, accounting for 14.9% of the total crypto market value ($1030.1 billion).
From the perspective of market size, nearly 90% of the entire stablecoin market is dominated by three centralized legal currency stablecoins, namely: USDT (67.4 billion), USDC (52.3 billion) and BUSD (19.2 billion);
At present, the largest decentralized stablecoin is DAI (6.5 billion), ranking fourth in the market value of stablecoins. Compared with the top three, there is still a big gap; on February 16 this year, the market value of DAI reached a maximum of 9.9 billion US dollars, then began to decline;
Decentralized computing stabilizes USTC (formerly UST), whose market value has continued to rise after this year, and reached a peak of 18.7 billion U.S. dollars in early May, surpassing BUSD to rank third in market value; but eventually collapsed due to design defects, and currently only 250 million is left Dollar;
Another collapsed DeFi stablecoin is MIM (Magic Internet Money). Last year, the project greatly stimulated minting demand by binding Curve incentives. At the beginning of this year, the market value was as high as 4.56 billion US dollars, ranking sixth, second only to USTC and DAI; However, with the shrinking incentives and falling into a growth bottleneck, the market value has dropped significantly after the year, and it is currently only 220 million US dollars, falling out of the top ten stablecoin market value rankings;
USDD, a decentralized stablecoin dominated by Tron, has sprung up suddenly. It was only more than 32 million in early May, and rose to 660 million in less than a month and has remained so far. It is currently ranked eighth; the project mechanism is the same as that of USTC, but with the collapse of USTC , Tron has made some improvements, such as setting up "Tron Federal Reserve" whitelist institutions, only these institutions can mint coins, and Tron has no clear redemption policy;
The price of HUSD broke the anchor in August this year and once fell below $0.9, but has now returned to normal; in this regard, Huobi officially stated that it will withdraw from HUSD in April 2022.
