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Stablecoin supply grew by nearly 400% in 2021

Twitter icon  •  Published 2 years ago  •  Hassan Maishera

The supply of stablecoins grew by over 300% over the past year, with the market now worth around $140 billion

The Block Research's 2022 Digital Asset Outlook report has revealed that stablecoin supply surged by 388% since the start of 2021. At the start of the year, stablecoins were worth around $29 billion but saw a huge increase in supply to end 2021 around $140 billion.

The growth has benefited numerous stablecoins, including tether (USDT), USDC and Binance USD (BUSD), with their market cap caps up significantly since the start of the year. The report highlighted that the decentralized finance (DeFi) space and derivative trading were the major reasons behind the growth of stablecoins in 2021.

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.