The stablecoin market has seen moderate growth in the past fortnight, with a collective increase in valuations of around $590 million. Notably, Ethena’s USDE witnessed the most substantial supply surge among the top five U.S. dollar stablecoins, rising by 17.5%. Conversely, First Digital’s FDUSD experienced a significant 29% decrease in supply.

The valuation of the stablecoin market has risen from $160.86 billion to $161.45 billion since May 11, 2024, marking a $590 million upsurge over the past two weeks. Tether (USDT) continues to dominate the market with a market capitalization of about $111.95 billion, constituting 69.34% of the entire stablecoin market.

Over the last 30 days, USDT's supply has grown by 1.3%, while Circle’s usd coin (USDC) has experienced a 1.9% decline, reaching a market valuation of $32.72 billion. Makerdao’s DAI has seen a 1.8% increase, reaching a market cap of approximately $5.29 billion.

FDUSD witnessed the most notable reduction in the 30-day period, with a 29% supply decrease, resulting in a market cap of $3.13 billion. Conversely, Ethena’s USDE experienced a 17.5% supply increase, reaching a market valuation of approximately $2.78 billion.

Tron’s USDD saw a 2.6% rise, with a market cap of $731.29 million, while Frax dollar’s (FRAX) supply remained stable at around $648 million. True usd (TUSD) experienced a slight 0.4% decrease, with a market valuation of $507 million.

Gemini’s gemini dollar (GUSD) has reentered the top ten stablecoins, experiencing a significant 336.2% increase in supply over the last 30 days. Its market cap is now approximately $432 million. PayPal USD (PYUSD), ranked tenth, witnessed a 31.8% increase, bringing its market cap to about $398 million.

These fluctuations in the stablecoin market indicate a cautious yet resilient environment, with certain assets gaining traction while others observe declines.