Tokenized gold capitalization has climbed a record of $ 1.4 billion in March, the negotiation volumes rising up the annual heights, show the monthly Coindesk Data Stablecoin report.
The growth of market value and activity has occurred alongside the physical yellow metal rally to new heights of all time over $ 3,000 per ounce. The Golden Back token of Tether (XAUT) and the Paxg of Paxos dominate among the offers, with stock market capitalizations of $ 749 million and $ 653 million, respectively.
The volume of trading with gold tokens exceeded $ 1.6 billion during the month, the highest level in more than a year, depending on the report.
The global market for stablescoin, which includes tokens with prices set for currencies and raw materials, has exceeded 231 billion dollars the market capitalization this month, increasing for the 18th consecutive month, according to the report.
The USDT de Tether, the largest stable on the market, also increased to a record offer of $ 144 billion. However, its market share has fallen to the lowest level (62.1%) since March 2023, because the landscape of Stablescoin is increasingly competitive. The USDC of Circle, the second largest stablecoin, increased 7% in a month to almost 60 billion dollars.
The decentralized financial protocol Ethena recently launched a Stablecoin USDTB, which uses Buidl Buidl from Blackrock, the money market fund in Tokrock, quickly swallowed up more than a billion dollars in assets to become the 8th in market capitalization.
Regarding negotiation volumes on centralized scholarships, the domination of the USDT has decreased slightly, but was still above 75.7% competition throughout the first ten stablecoins. Meanwhile, FDUSD of First Digital, based in Hong Kong, based in Hong Kong, saw their domination of market capitalization at 13.6% and 10% respectively.
The quarters of regulations reshaped the Stables-Coin market lengled in euros, while the exchanges began to comply with the markets within the framework of the crypto-sets (Mica). Kraken has defined USDT and other non -compliant stablescoins for European users, according to the traces of other exchanges such as Coinbase and Crypto.com.
The Stablecoin Eurc de Circle was a notable beneficiary of developments, increasing by almost 30% to 157 million dollars and demand a market share of 45% of all euros.
