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- 🎊 ETH Deposit & Trading Carnival Kicks Off!
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Golden Finance reported that the monthly stablecoin report from CoinDesk Data shows that in March, the market capitalization of tokenized gold soared to a record 1.4 billion dollars, with volume spiking to an annual high. Among these products, Tether's gold-backed token (XAUT) and Paxos' PAXG dominate, with market capitalizations of 749 million dollars and 653 million dollars, respectively.
The report states that the overall stablecoin market's market capitalization exceeded $231 billion in March, marking 18 consecutive months of growth. USDT rose to a record $144 billion. However, as competition in the stablecoin market intensifies, its market share has fallen to the lowest level since March 2023 (62.1%). The second largest stablecoin, Circle's USDC, grew by 7% in one month, reaching nearly $60 billion.