The total fixedcoin market value in the cryptocurrency industry reached approximately $ 20 billion. Surpassing Bitcoin and Paypal in daily transaction volume, Tether (USDT) increased its market value to almost $ 15 billion, while USD Coin (USDC) increased its value to $ 2 billion.
Fixedcoins, which are the gateway to the digital world for units used in central financial systems, with a price fixed to a traditional currency, continue to attract more attention day by day. Fixedcoins, which enable users to easily transact with traditional currencies such as dollars and euros in the crypto money sector without losing value, managed to carry the total market value to $ 18.8 billion.
At the head of the success of the fixedcoins, tokens such as USDT and USDC, which are pegged to the US Dollar, lead. Carrying its market value to $ 14.8 billion with a daily trading volume of $ 37 billion, Tether takes the first place on the list. The leading fixedcoin is followed by USDC with a market capitalization of over $ 2 billion and Dai (DAI) with a value of half a billion dollars.
DeFi Plays a Great Role in This Success
According to Piayasa analysts, decentralized finance (DeFi) applications, which mostly use the Ethereum network, have a serious say in this development of fixedcoins. As interest in decentralized finance platforms that offer many models such as Yield farming increases, both the transaction volume and market value of fixedcoins continue to grow.
So much so that the leading fixedcoin gets 60% of Tether’s market value, which is based on $ 15 billion, from the Ethereum network. At the same time, USDT, which is the most burdened token on the ETH network after DEX Uniswap projects, has spent a transaction fee of $ 10.5 million in the last 30 days.
Fixedcoins are an escape door for investors from all over the world
In addition to the intense interest in the DeFi world, these dollar-pegged tokens are an important opportunity for most investors. Especially in Asian countries such as China, where tight management is observed, people can carry out their financial transactions as they want without the pressure of the government with fixed coins fixed to the USD value, which acts as a kind of digital dollar.
Investors also benefit from these advantages that come from the essence of cryptocurrencies, such as making transactions decentralized and regardless of place and time, with fixedcoins. At the same time, investors prefer to invest in non-volatile fixedcoins such as Bitcoin and altcoins; they want to prevent their money from losing value due to some internal developments or government policies.