Stablecoins & CBDCs Report

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

  • April 25, 2024
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Stablecoins & CBDCs Report

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

  • April 25, 2024

Report Summary

In April, the total market capitalisation of stablecoins increased by 4.76% to $158bn, marking the seventh consecutive monthly rise. This is the highest level since May 2022, with the market cap adding $27.1bn since January, thanks to robust trading activity and favourable market conditions.

  • Following Bitcoin’s previous all time high in March, April saw stablecoin trading volumes on centralised exchanges (CEXs) jump by 98.9% to an unprecedented $2.18tn.
  • The FDUSD stablecoin soared 77.6% in market cap to reach $3.89bn, the highest ever, positioning it as the second most traded stablecoin on CEXs. Trading volume for FDUSD pairs nearly hit $388bn.
  • As geopolitical tensions escalated in the Middle East, gold prices reached new highs, boosting the market cap of gold-pegged stablecoins like Tether Gold (XAUT) and Pax Gold (PAXG) by 4.20% and 4.77%, respectively.
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