Despite the overall crypto market downturn, the stablecoin market continues to show strong performance, with the total supply recently surpassing the magnificent milestone of $180 billion. Over the past 30 days, the total supply of stablecoins has increased by $9.5 billion, demonstrating a robust growth trajectory. According to data from crypto research firms Arcane Research and CryptoRank, the growth rate of the stablecoin market continues to outpace other areas of the crypto space, with a 6% increase in just the past 30 days. The largest stablecoin globally, USDT, commands a market share of 44%, but its growth has stagnated over the past year. In contrast, the development momentum of the USDC stablecoin is rapid, and if the growth rates of USDC and USDT continue at a similar pace in 2022, USDC is expected to become the largest market capitalization stablecoin by the end of May.

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