The data as of October 12^th 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 12^th). 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 11^th.