Insights from RWA Report 2024 Showcase USD Hegemony in Crypto
In a current exploration from the Real World Asset Record of 2024, the crypto sector witnesses a calculated prominence of USD-pegged stablecoins proceeding to be at the center of real-planet asset (RWA) approval within the digital economic situation.
The record’s fulcrum findings object that majority of the RWA sector is currently occupied by stablecoins pegged to the US buck. Coating the charts are Tether (USDT), showing off a shocking $96.1 billion sector capitalization, closely trailed by USDC via $26.8 billion, and Dai at $4.9 billion.
Notably, Tether retains a controling 71.4% sector share saving upwards its stance within the space. USDC still battles to retrieve its thrown away headway functioning with via a brief-lived de-resolving incident throughout the US banking meltdown of March 2023.
Scuba much deeper into the landscape, the record unveils a stark reality of marginal diversification past the USD-pegged stablecoins. With one voice natural fiat-backed stablecoins, such as Euro Tether (EURT), CNH Tether (CNHT), Mexican Peso Tether (MXNT), EURC (EURC), Stasis Euro (EURS), and BiLira (TRYB), collectively constitute a mere 1% of the sector share.
In addition, the record outbuildings light on the trajectory of secure asset sector capitalization over the years. From a paltry $5.2 billion at the inauguration of 2020 the stablecoin sector climbed up to an accidental $150.1 billion pinnacle in March 2022, but, then ridiculing among sector variations.
The year 2024 marks a rejuvenation of the stablecoin witnessing a 4.9% apex in sector cap from $128.2 billion at the inception of the year to $134.6 billion as of February 1.
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