Stablecoin Market Hits New High Above $310B as Yield Stablecoins Weaken
The stablecoin market continues to expand, with total fiat pegged token market capitalization surpassing $310 billion for the first time in the second week of December. After a brief pullback in mid November, when market cap dipped from $309 billion to a low of $302.88 billion, the sector rebounded quickly and set a new all time high near $310.09 billion as of December 13.
Over the past seven days, stablecoin market cap grew by roughly 0.57%, representing nearly $1.79 billion in net inflows. Tether’s USDT remains dominant, holding over 60% market share with a capitalization of $186.26 billion, up more than $536 million on the week. Circle’s USDC also posted strong growth, adding around $613 million to reach $78.41 billion.
While some non top tier stablecoins saw sharp gains, yield bearing stablecoins continued to face pressure. Ethena’s USDe fell nearly 3% over the week, while USDtb dropped close to 19%. According to Stablewatch, the market cap of yield stablecoins has declined more than 9% over the past 30 days, reflecting a broader risk off shift following the October crypto market downturn.
