The market value of stableecoin pierced just $ 200 billion and reached a record height in a sign that the crypto market can be ready for further growth, according to Cryptoquant.

Stableecoins are digital tokens whose value is tied another asset, typically the US dollar, to give, as the name suggests, a stable price. They are used by dealers to maintain the value of their investments as the switch between assets.

According to Cryptoquant Data, the StableCoin market has grown by $ 37 billion since the beginning of November when President Donald Trump won the US election.

“The next leg up for Bitcoin and Crypto prices could be around the corner as Stableecoin’s liquidity impulse begins to expand again,” Cryptoquant wrote in a report.

Tether’s USDT remains the dominant stableecoin leader with $ 139 billion in market capital, after growing 15% since November. Circle’s USDC is next, with $ 52.5 billion after growing 48% in the same period, according to cryptoquant data.

USDT’s liquidity change on a 30-day basis is now a bit positive after entering into 2% at the beginning of the year. Meanwhile, USDC’s liquidity change is on a 30-day basis up 20%, the fastest pace in a year.

In comparison, Bitcoin (BTC) has risen over 50%and the total crypto market is now $ 3.5 trillion from $ 2.2 trillion, according to TradingView Metric, total.