The stablecoin market hit a record $322B, surpassing FX reserves of 95 countries including the UK and Canada. USDT and USDC control 83% of the market.

Over the last week, the stablecoin sector posted a contraction of $90.01 million, bringing the market’s total valuation to $323.052 billion.

The amount of dollars and other fiat currencies held by users outside traditional banking channels now exceeds the official FX reserves of 95 nations.

The stablecoin market has reached a record $322.5B, surpassing the foreign exchange reserves of 95 countries including the UK, Canada, and Mexico.

The stablecoin market hit a record $322B, surpassing FX reserves of 95 countries including the UK and Canada. USDT and USDC control 83% of the market.