Top Real World Applications Of Stablecoin In 2023 Atoallinks Cryptocurrencies have taken the world by storm after the introduction of bitcoin and ethereum. though many crypto giants have invested in cryptocurrencies over the past decade, a few hesitate to put their money in crypto assets due to the predicament of volatility. this is where stablecoin comes into the picture. Afp via getty images. stablecoin usage continues to climb in 2023, with hundreds of thousands of users relying on these us dollar pegged cryptocurrencies every day. the most popular stablecoins.
Top Real World Applications Of Stablecoin In 2023 2024 The total stablecoins market cap started the year at $167.9 billion on january 1, 2022, and ended off at $138.4 billion on january 31, 2023. the $29.5 billion contraction represents a 17.6% decline for the total stablecoins market cap. across the board, all stablecoins faced a similar decline in individual market cap with the exception of usdc. The future of stablecoins. a study by juniper research predicts that global stablecoin transactions will soar to over $187 billion by 2028, up from around $53 billion in 2023. cross border transactions using stablecoins are anticipated to dominate, constituting nearly 73% of global stablecoin payments. Dai (2017) dai is a decentralized stablecoin that operates within the ethereum blockchain ecosystem. it was created by the makerdao project, which was founded in 2014 with the goal of establishing. 17 see for example ecb (2020). 18 total market capitalisation grew 946% from 1 january 2019 to 31 december 2020. the stablecoin market continued to shrink into 2023. between april 2022 and the end of january 2023, the total capitalisation of the stablecoin market had shrunk by more than 25% to $138 billion.
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