Ethena Overtakes Ripple in 24-Hour Stablecoin Market Cap Growth With $337.4 Million Gain
Ethena has overtaken Ripple as the largest contributor to stablecoin market capitalization growth over the past 24 hours, adding $337.4 million to its market cap, according to data from Token Terminal. The shift comes just one day after Ripple held the top position in the same ranking.
Ripple recorded a $39.6 million increase during the latest 24-hour period, placing it second behind Ethena. Although the figure represents continued growth, Ethena's gain was approximately 8.5 times larger.
Ethena Takes the Lead After Ripple's Previous-Day Performance
The latest ranking marks a change from the previous day, when Ripple led stablecoin market capitalization growth with an increase of $34.7 million. Its position has since been surpassed by Ethena's substantially larger gain.
Token Terminal's figures show that Ethena added $337.4 million over the 24-hour period, making it the leading contributor among the stablecoin issuers included in the data. Ripple followed with its $39.6 million increase.
Other Stablecoin Issuers Also Record Market Cap Growth
Several other stablecoin issuers posted gains during the same period, although their increases were considerably smaller than those recorded by Ethena and Ripple.
USDD ranked next with a $13.9 million increase, while Paxos added $10.8 million to its market capitalization. Ondo recorded a gain of $4.2 million, followed by OpenStandard at $3.2 million and UnitedStables at $3 million.
The figures highlight the different growth rates recorded across stablecoin issuers over the latest 24-hour period, with Ethena leading the ranking by a wide margin.
source: u.today
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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