Stablecoin Sector Roars Back as Market Nears a Record Peak

Source: CryptoNewsNet Original Title: Stablecoin Sector Roars Back as Market Nears a Record Peak Original Link: Stablecoin market caps are picking up steam again, inching their way back toward the $309 billion all-time high after another $2.26 billion poured in over the past week.

The fiat-pegged token realm keeps expanding, and data shows that the latest $2.26 billion boost reflects a 0.74% lift from the week before. As of Saturday, Dec. 6, the stablecoin total sits at $308.435 billion. The sector needs only a modest 0.1864% nudge to clear its all-time peak.

Out of today’s total, Tether’s USDT holds a hefty 60.22% slice of the pie, with its market cap hovering near $185.726 billion this weekend. USDT tacked on another $1.074 billion over the last seven days, meaning a solid 47.52% of the sector’s week-long growth came solely from USDT.

Circle’s USDC grabbed a healthy share of this week’s climb, notching a 2.09% rise over the past seven days. That translates to roughly a $1.59 billion lift, pushing Circle’s stablecoin to a market cap of about $77.8 billion. Ethena’s USDe drifted 6.84% lower over the week, landing at a $6.731 billion market cap by the weekend.

Sky dollar (USDS) kept the mood lively with a 3.72% pop to $6.064 billion, while Dai eased 2.77% to $4.633 billion. Paypal’s PYUSD slipped 0.70% to $3.834 billion. World Liberty Financial’s USD1 picked up a mild 0.28% to reach $2.765 billion, and Falcon’s USDf eked out a tiny 0.08% rise to $2.085 billion.

Blackrock’s BUIDL had the roughest outing with a 15.32% slump to $1.523 billion, but Circle’s USYC shook off the week with an 8.03% climb to $1.294 billion. USYC is similar to BUIDL as it is a U.S. Treasury-backed token tied to the value of a greenback.

With stablecoins jockeying for position and capital flowing in from every direction, the sector looks poised to topple its previous record with just the slightest push at some point this week. Whether it’s heavyweight tokens adding billions or smaller players bobbing through the week’s ups and downs, the market’s steady climb suggests the race toward a new pinnacle isn’t slowing anytime soon.

Current stablecoin market cap: The stablecoin market sits at $308.435 billion as of Dec. 6.

Distance to all-time high: The sector needs only a 0.1864% increase to exceed the $309 billion peak.

Primary growth driver: Tether’s USDT accounted for 47.52% of the sector’s weekly gains.

Notable weekly movements: USDe fell 6.84% while USDS climbed 3.72% over the same period.