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

According to The Block, on Thursday, the total market value of stablecoins exceeded $230 billion for the first time, as US regulatory agencies worked hard to promote the adoption of stablecoins. According to DefiLlama's data, the current total market value is $230.45 billion, an increase of $2.3 billion in the past seven days. Compared to 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 value of nearly $144 billion, accounting for 62.6%, followed by Circle's USDC with a market value of $59 billion.