Stablecoin Market Cap Remains High Amid Crypto Market Decline

On February 7, the cryptocurrency market experienced a downturn over the past two weeks, with the total market capitalization falling below $2.4 trillion. According to BlockBeats, despite this decline, the stablecoin market cap remains at a historically high level. Data from DefiLlama indicates that the stablecoin market cap is currently reported at $307.152 billion. USDT holds a market share of 60.28%. Notably, the stablecoin USD1, under WLFI, has shown significant growth, with its circulating market cap increasing by 50.64% over the past month, now reported at $5.217 billion.