Stablecoins Hit Record Market Cap of Nearly $170 Billion After Year of Growth

Stablecoins have reached an all-time high market cap of $169.57 billion following nearly a year of uninterrupted growth.

“And just like that, we’re at a new all-time high. The total stablecoin market cap, excluding algorithmic stables, is now at the highest point ever, surpassing its previous high from early 2022. New money is entering crypto.” Topping the chart is the leading stablecoin – USDT – which has experienced a market cap increase of approximately 28% so far this year, rising from around $92 billion at the start of the year to $118 billion at the time of writing. USDT now makes up around 70% of the entire stablecoin market cap.

Additionally, the PayPal-backed PYUSD stablecoin has also witnessed an impressive increase. It has surpassed USDD to position itself as the fifth largest stablecoin, with a market cap exceeding $1 billion over the weekend.an 8.35% reduction in July’s trading volumes, down to $795 billion, driven by less activity on centralized exchanges and regulatory issues in Europe owing to the Markets in Crypto-Assets Regulation .

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

China regulates bond market based on market principles, state media saysChina regulates bond market based on market principles, state media says
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Xpeng Launches as Australian EV Market Down, New Zealand Market RecoveringXpeng has made a spectacular launch in Australia as the Australian EV market contracts and the New Zealand EV market recovers.
Källa: cleantechnica - 🏆 565. / 51 Läs mer »

July inventory increase brings Denver housing market closer to a buyer’s marketWith a 68% increase in available inventory from July of last year, the close-price-to-list-price ratio is the lowest it’s been since July 2020. According to the July monthly real estate trend…
Källa: denverpost - 🏆 13. / 72 Läs mer »

Garden Ridge Market Days - Back to School Festival & MarketJoin in for GARDEN RIDGE MARKET DAYS Back-to-School Festival & Market on Aug. 10, 2024 from 9:30 a.m.-2:30 p.m. at Northeast Bible Church.
Källa: SAcurrent - 🏆 607. / 51 Läs mer »

Prestige Market Stayed Hot, While Mass Market Was Flat in First Half, According to New ReportCircana data shows robust growth in the prestige market, while the mass market saw unit declines across the board.
Källa: wwd - 🏆 24. / 68 Läs mer »

Tuberville, Alabama lawmakers blame market unrest on ‘Kamala Crash’: Why did the stock market drop?The Dow was down more than 900 points by lunchtime.
Källa: aldotcom - 🏆 82. / 68 Läs mer »