Stablecoins & CBDCs Report

Gain insight into the latest developments in the stablecoin and CBDC sector, focusing on analysis that relates to market capitalization, trading volume and more.

  • October 13, 2023

Report Summary

The data as of October 12th suggests that the total stablecoin market cap is trending towards the nineteenth consecutive decline, with the market cap falling 0.14% to $124bn. Meanwhile, stablecoin market cap dominance fell to 10.1% from 11.3% in September.

Key Takeaways

  • In October, the market capitalisation of USDT rose 0.37% to $83.5bn, pushing the market dominance to 67.5%, the highest since January 2021.
  • The market capitalisation of USDC fell 0.54% to $24.6bn (as of Oct 12th). This recorded the tenth consecutive decline in market capitalisation for the stablecoin.
  • Tangible DAO’s USDC depegged to as low as $0.52 after its treasury was drained of all of its liquid DAI on October 11th.
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