There is no doubt that the $129 billion stablecoin market is bubbling, with hundreds of different projects, each with various features and functionality. However, despite the diversity, the stablecoin market is primarily dominated by the top five projects, which make up 94% of the total market capitalization and represent 99% of stablecoin trading volume, most of which are USD-stablecoins.
As a matter of fact, most of the stablecoin market revolves around the U.S. dollar, adding currency exchange
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