Stablecoin supply increased by 395% in 2020

Stablecoin supply increased by 395% in 2020
In addition to Bitcoin, stablecoins with a supply exceeding 25 billion are also in great demand.

Current statistics show that the supply of stablecoins has exceeded $25 billion, which means YTD growth of 395%. The analysts of Arcane Research came up with this analysis of stablecoins and they published other interesting findings, too.

Tether is still the king of stablecoins, accounting for almost 80% of the total market. As for its circulating offer, it is approaching $20 billion. The second place goes to stablecoin USDC, which has more than $3 billion in circulation.

However, the growing popularity of stablecoins caused US Congress to consider a bill proposal on the stablecoin tethering and bank licensing enforcement.

If such a law were passed in the future, it would require all providers of stablecoins to have a bank charter and would also have to be approved by the Federal Reserve and FDIC.

Read also: Digital Yuan will be part of the payment options in China’s second largest online retailer

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