On March 21, the market capitalization of stablecoins reached $150 billion for the first time in 18 months.

Tether (USDT) stands as the undeniable frontrunner in this realm, boasting a commanding 70% dominance. Following closely behind is the second-largest stablecoin, USD Coin (USDC), with a substantial market capitalization of $31.8 billion, securing Circle's stablecoin a market share exceeding 20%. Occupying the third position is DAI, with a market capitalization of $4.7 billion, claiming a 3% share of the market at the time of this composition.

The crypto community perceives the surge in stablecoins' market capitalization as a promising indicator for further market expansion. The substantial market capitalization of stablecoins underscores their significance in fulfilling market demands.

In March, the rating agency S&P Global Ratings issued its ninth stability rating for a range of stablecoins, including USDC, USDT, DAI, FDUSD, FRAX, USDM, GUSD, USDP, and TUSD.

USDC, USDP, and GUSD received a "strong" rating, whereas USDM from Mountain Protocol was assessed as "adequate." Stablecoins USDT, DAI, and FDUSD were classified as "constrained."

FRAX and TUSD were deemed to carry the highest risk and were valued the lowest. None of the listed assets obtained the highest rating in the latest assessment.