Data: The stablecoin market has grown by 1.3 billion US dollars in 5 days, with Tether leading the surge

According to News.bitcoin, the stablecoin market has continued its upward trend over the past five days, increasing in value by $1.3 billion. Tether (USDT), the largest stablecoin network by market capitalization, expanded its supply by $820 million during this period, with its market cap rising from $116.88 billion to the current $117.7 billion.

Since January 1, 2024, USDT's market cap has grown by $25.96 billion, climbing from $91.74 billion to its current level. Another emerging stablecoin is First Digital's FDUSD, which saw its supply increase by $280 million in just one day. Over the past week, an additional 710 million FDUSD have been issued.

Meanwhile, Paypal's PYUSD, ranked sixth by market capitalization, is also growing. PYUSD is approaching the $1 billion mark for the first time, with its market cap reaching $981.69 million as of August 23. Over the past 24 hours, more than 15 million PYUSD tokens have been issued, and its supply has increased by 190 million tokens over the past week. Aave's GHO has also seen a modest increase, adding $4 million over the past week.