Stablecoin market cap reaches $140 billion for the first time since late 2022

According to data from CoinMarketCap, the total market capitalization of stablecoins has surpassed $140 billion in February. Data from DefiLlama shows that this is the highest level since December 2022. The largest stablecoin in the market, Tether (USDT), has reached a new all-time high of $98 billion, with an increase of approximately $2 billion in the past month. The second-largest stablecoin, USDC, has grown from $24 billion at the beginning of the year to over $28.5 billion, with a market cap increase of nearly $2.5 billion in the past month, surpassing the growth rate of Tether during the same period. Vetle Lunde, Senior Analyst at K33 Research, stated in a market report, "The changes in stablecoin supply serve as a barometer to gauge whether funds are flowing into or out of the crypto ecosystem."