Regulatory challenges in Europe contribute to a decline in stablecoin trading volumes despite market growth.
The stablecoin market has reached an unprecedented milestone, with its market capitalization soaring to $169.553 billion. This figure represents the highest point in history, marking 11 consecutive months of growth., this new peak surpasses the previous record of $167 billion, which was set in March 2022 before a significant downturn later that year.has been a key driver in the stablecoin market’s recent growth. Starting 2024 with a market cap of $91.
As the stablecoin market grows, issuers like Tether and Circle have increasingly turned to US Treasury bills as their preferred back-up assets, according to a recent AMBCrypto Known for their safety and liquidity, these assets have become a cornerstone in ensuring the 1:1 backing of stablecoins. This trend has solidified Tether and Circle’s roles as key players in the market, as they work to maintain the stability and reliability of their tokens.Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.Subscribe to get it daily in your inbox.