USDD 2.0 Liquidity Update

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💫 While US dollar-backed stablecoins hold 90% market share in stablecoin transactions, the share of transactions directly using US dollars is 10%. The usage share of Euro-backed stablecoins is 1.1%.

Stablecoins have expanded more swiftly this year compared to the previous one. Just a week earlier, the stablecoin market was valued at $155.86 billion; today, it stands at $158.67 billion, reflecting a 1.8% increase. In contrast to the broader cryptocurrency market, which experienced a noticeable decline, the dollar-pegged crypto sector demonstrated strong growth. Stablecoin Market Climbs $2.81B in a Week, Nearing $160B Valuation Stablecoin dominance according to defillama.com. The overall value of the stablecoin market increased by approximately $2.81 billion, with $2.2 billion of this growth attributable to tether (USDT). Over the past month, tether’s supply expanded by 5.6%, reaching a current valuation of $109.38 billion. Last week, on April 12, usd coin (USDC) held a market valuation of about $32.02 billion, which has since risen to $33.15 billion. DAI also enjoyed a week of growth, with its market cap increasing from $4.93 billion to $5.12 billion. In contrast, FDUSD experienced a small drop from $3.93 billion on April 12 to $3.58 billion today. Despite this weekly dip, FDUSD’s supply has risen by 23.8% since March 19. Ethena’s USDE has shown no significant changes in supply over the past week, maintaining a stable figure of $2.38 billion. Over the past month, USDD, TUSD, and USDP have all recorded declines. USDD’s supply decreased by 2.7% this month, while TUSD saw a substantial 48.9% reduction over the same period. Paxos’ USDP experienced a 25.2% cut since March 19. Meanwhile, Paypal’s stablecoin, PYUSD, achieved a 6.8% increase this month, boosting its market valuation to $202 million at press time. In the dynamic landscape of the stablecoin market, this week’s growth exemplifies a clear deviation from the broader cryptocurrency trends, with USDT leading the charge. As the market faces fluctuations, stablecoins seem to offer a semblance of stability, albeit with varying supply changes among different tokens.

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Today, the Bouncebit (BB) market shows an interesting trend. The Opening Price was 0.1379, the highest reached 0.1433, and the Closing Price was 0.1390, with a slight pump of 0.72%. Although the rise is not large, it has maintained a stable rising trend. From the perspective of moving averages, MA7 is at 0.1402, slightly above the current price, indicating some short-term pressure. However, MA25 is at 0.1371, below the current price, suggesting that the medium-term trend remains positive. More notably, MA99 is only at 0.1111, reflecting that BB has achieved a considerable rise over the past three months, and the overall trend is still upward. In terms of trading volume, today there are only 1.02 million USDT, which is relatively low, indicating that market participants are still observing and have not yet shown large-scale following behavior. Based on the current market situation, for investors who already hold BB, continuing to hold may be a good choice, as the medium to long-term trend remains positive. For investors looking to enter the market, it is advisable to wait for a price correction to around 0.137 before considering, to avoid chasing highs. In terms of short-term trading, today's volatility is only 4%, with limited space, so frequent trading is not recommended. Although there was no significant rise today, the overall trend of BB remains good, and investors need not worry excessively. The cryptocurrency market sometimes requires patience, and holding onto coins may yield better returns. In the face of the current market situation, whether BB can break through the previous high points has become the focus of attention. Investors need to closely monitor market trends and make informed decisions based on their own risk tolerance.