The combined market capitalization of the six largest stablecoins (USDT, USDC, BUSD, DAI, TUSD, and USDP) has recently surpassed $121 billion, adding over $660 million in the last two weeks. This is a slight improvement compared to the overall decline registered in the past 18 months, which was prompted by the Terra collapse in May 2022 and the FTX meltdown in November last year. The US banking crisis this spring also had a significant impact on the performance of USDC, which saw its market capitalization drop from over $44 billion to approximately $26 billion.In contrast, the leading stablecoin, USDT, issued by Tether, has considerably increased its dominance against its rivals and hit an all-time high of over $84.1 billion at the beginning of August.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	None
Companies	Circle, Tether, Silicon Valley Bank (SVB), CoinGecko, Binance
Currencies	Tether, Dai, USD Coin, Pax Dollar, Ethereum, Binance USD, Bitcoin, TrueUSD
Securities	None