Stablecoin Market Cap Hits $164B, Extending 10-Month Growth Streak: CCData

The total stablecoin market capitalization grew by 2.11% in July, reaching $164 billion, according to CCData.a 1.61% increase to $116 billion, setting a new all-time high. This marks Tether’s eleventh consecutive monthly rise in market capitalization.

While other major stablecoins like USD Coin , BlackRock’s BUIDL, and PayPal USD saw increases, First Digital USD and Ethena USDe experienced declines in market capitalization. Overall, stablecoin trading volumes fell 8.35% to $795 billion in July amid struggling activity on centralized exchanges. Despite this, the report indicates a trend towards higher monthly volumes following the launch of spot Ethereum ETFs and the positive sentiment expressed at the Bitcoin 2024 Conference last week.

Stablecoins such as Circle’s USD Coin and EUR Coin have already complied with these requirements, leading to increased confidence and trading activity.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

PayPal's stablecoin surpasses $500 million market cap following Solana expansionThe total market supply of PayPal’s PYUSD stablecoin surpassed half a billion tokens, according to DeFiLlama.
Sumber: TheBlock__ - 🏆 464. / 53 Baca lebih lajut »

VanEck sees Bitcoin reaching $61 trillion market cap, Marathon buys $100 million BTCBitcoin (BTC) declined by 1% on Thursday following asset manager VanEck's forecast that the top digital asset will reach a $61 trillion market capitalization by 2050.
Sumber: FXStreetNews - 🏆 14. / 72 Baca lebih lajut »

Dogecoin, Shiba Inu, PEPE, BONK hit by correction, meme coin market cap downMeme coin market capitalization is down 6% on Thursday as the top three cryptocurrencies, Bitcoin, Ethereum, and XRP, are hit by a correction.
Sumber: FXStreetNews - 🏆 14. / 72 Baca lebih lajut »

Stablecoins Signal Crypto Ecosystem Buoyancy as Market Cap Jumps to $164BOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Sumber: CoinDesk - 🏆 291. / 63 Baca lebih lajut »