Stablecoin Market Value Sees Significant Growth in May 2024

According to Odaily, the market value of stablecoins has seen a significant increase since May 11, 2024. The value has grown from $160.86 billion to $161.45 billion, marking an increase of $5.9 billion in just two weeks. USDT, a prominent player in the stablecoin market, holds a market value of approximately $111.95 billion, accounting for 69.34% of the total stablecoin market. Over the past 30 days, the supply of USDT has increased by 1.3%. In contrast, the supply of USDC has decreased by 1.9% during the same period, with a market value of $32.72 billion as of May 26, 2024. DAI, another stablecoin, currently holds a market value of approximately $5.29 billion, marking a growth of 1.8% over the past month. FDUSD, however, has seen the largest drop within 30 days, with a 29% decrease in supply, bringing its market value to $3.13 billion. On the other hand, Ethena's USDe has seen a supply increase of 17.5% during the same period, bringing its market value to approximately $2.78 billion as of May 26, 2024.