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Stablecoin Valuations Proceed to Swell, MIM and MUSD Market Caps Enhance by Triple-Digits in 30 Days

11/06/2021
Stablecoin Valuations Continue to Swell, MIM and MUSD Market Caps Increase by Triple-Digits in 30 Days

In mid-October, the market capitalization of all of the stablecoins in existence was $134 billion and over the past three weeks, the valuation has elevated by 5.59% to $141.5 billion. Whereas terrausd’s market cap jumped by 6.7% during the last month, the stablecoin DAI noticed a rise of 27.3% in 30 days. The biggest stablecoin by market capitalization elevated by 6% this month with a grand whole of 73 billion tethers in circulation as we speak.

Stablecoin Capitalization Will increase by 5.59% Over the Final Month — Makerdao’s Stablecoin Rises 27%

On October 13, 2021, the biggest stablecoin market cap held by tether was $70.9 billion and it’s now $73 billion. The stablecoin market USDC was $33.3 billion and as we speak it’s $34.2 billion. Whereas tether’s (USDT) market cap jumped final month by 6%, USDC’s improve was barely much less with a 5.8% improve in 30 days.

Out of the highest 5 stablecoins when it comes to total valuation, the stablecoin DAI, issued by Makerdao, rose essentially the most with a 27.3% soar final month. Terrausd, the stablecoin issued by the Terra community, elevated 6.7% this previous month and was the second-largest 30-day gainer.

Mstableusd, Magic Web Cash See Triple-Digit Will increase — TIME, KLIMA Rebase Tokens Rise

An outlier within the high stablecoins, positioned within the sixth spot is magic web cash (MIM) which noticed an enormous 30-day improve of 152.3%. The abracadabra.cash issued MIM stablecoin has a market valuation of $2.5 billion and $112 million in 24-hour commerce quantity. On the time of writing, the AVAX-based decentralized alternate (dex) platform Dealer Joe is essentially the most energetic MIM alternate. Whereas MIM elevated by 152% final month, it’s the second-largest gainer as mstableusd (MUSD) rose by 379.4%.

MUSD now has a market valuation of $139.3 million and $2 million in international commerce quantity. Whereas the highest stablecoin market caps have elevated, their sibling protocols — rebase tokens — have risen as nicely. The highest rebase (reserve token) olympus (OHM), nonetheless, is down 25.5% over the past seven days. The second and third largest rebase tokens wonderland (TIME) and klima dao (KLIMA) have elevated. TIME seven-day stats swelled by 38.5% and KLIMA’s weekly metrics rose 10.5%.

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