Stablecoin market capitalization exceeds $164 billion...10th consecutive month of growth

It has been revealed that the market capitalization of stable coins has increased for 10 consecutive months. On the 4th (local time), CryptoPotato cited CCDate and said that the market capitalization of stable coins rose to 10.5% in July.
The report said that the value of cryptocurrencies rose 2.11% to $164 billion in 2019. This marks the 10th consecutive month of growth for major stablecoins, bringing their market dominance to 6.93%.
Tether (USDT), the largest stablecoin by market capitalization, rose 1.61% to a new all-time high of $116 billion.
Tether's market capitalization has risen for 11 consecutive months. According to DefiLlama, Tether (USDT) accounts for about 70% of the stablecoin market share. Tether is 20
On July 31, the company reported record profits of $5.2 billion (about 742 billion yen) in the first half of 2024.
Other major stablecoins such as USDCoin (USDC), Blackrock’s BUIDL and PayPal USD (PYUSD) also rose, but F
The market capitalizations of irst Digital USD (FDUSD) and Ethereum USDe (USDe) have declined.
PayPal is the biggest gainer among the top 10 stablecoins
USDC rose 17.9% to $589 million, hitting a new all-time high. USDC is the top stablecoin by market capitalization, excluding Tether.
This represents a 73.5% market share. The report revealed that trading volume for USDC trading pairs on centralized exchanges grew by 48.1% to $135 billion.
The company explained that this was due to compliance with the MiCA regulation that came into force in Europe last month. Overall stablecoin trading volume fell to 8.2% in July due to a decline in activity on centralized exchanges.
The report, however, noted that the Ethereum spot ETF launch and the recent Bitcoin 2024 conference led to a 1.35% decrease in value to $795 billion.
He noted that a positive atmosphere has been fostered in Lens and that a trend of increasing trading volume has been observed every month.