The total market value of stablecoins has broken through 230 billion US dollars for the first time

According to The Block, on Thursday, against the backdrop of U.S. regulators pushing for stablecoin adoption, the total market value of stablecoins surpassed $230 billion for the first time. According to data from DefiLlama, the current total market value is $230.45 billion, an increase of $2.3 billion in the past seven days. Compared with the same period last year, the market value of stablecoins has increased by 56%. In terms of overall market value, Tether's USDT stablecoin dominates with a market cap close to $144 billion accounting for 62.6%, followed by Circle's USDC at $59 billion.