CryptoCompare Releases January Stablecoin Report

CryptoCompare reported that the total market capitalization of stablecoins fell 0.62% to $137 billion, the lowest stablecoins market cap since September 2021 in January. And this is the tenth consecutive month of decline in stablecoins market capitalisation.

The market capitalisation of Tether ($USDT) rose 0.82% to $66.7 billion, increasing its market share to 48.7%. It is the highest dominance recorded since October 2021. The market capitalisation of True USD ($TUSD) and TerraClassicUSD ($USTC) rose 24.5% and 13.1% to $940 million and $225 million, respectively, with the former surpassing Pax Dollar ($USDP) in market cap this month.

In addition, $USDC and $BUSD saw their market capitalisation fall 2.27% and 3.97% to $43.1 billion and $16.1 billion respectively.