After 22 months of growth, stablecoin capitalization reached $261 billion
The stablecoin sector reached another milestone in July, with its total market cap reaching a new all-time high of $261 billion, up 4,87% from the previous month.
This achievement comes after an unprecedented 22 months of growth in the stablecoin market.
According to the CoinDesk report “Stablecoins and CBDC», trading volume in stablecoin pairs on centralized exchanges reached $1,60 trillion in July, coinciding with overall growth in digital assets fueled by corporate adoption.
Data from Coindesk Research
The document states that Tether (USDT) maintains its leadership in the sector, with the crypto asset’s market cap growing by 3,61% to $164 billion in July. Despite this growth, USDT’s market share has slightly decreased from 62,5% to 61,8%.
USD Coin (USDC) also performed strongly, rising 3,78% to $63,6 billion, while Ethena USDe gained a whopping 43,5% to reach $7,60 billion.
According to the document, Falcon Finance’s USDf, which recorded the highest market capitalization growth among the top 10 stablecoins, rose 121% to $1,07 billion.
BlackRock’s BUIDL and First Digital Labs’ FDUSD, on the other hand, showed negative results, falling by 15,9% and 8,54% to $2,40 billion and $8,54 billion, respectively.
Data from Coindesk Research
The top 10 largest stablecoins by market capitalization are ranked as follows: Tether (USDT), USD Coin (USDC), Ethena USDe, Sky Dollar, Dai, BlackRock USD (BUIDL), World Liberty Financial USD (USDD), Ethena USDtb, First Digital USD and Falcon USD.
These advances have prompted governments and traditional financial institutions to soften their stance on accepting cryptocurrency stablecoins.
Thinking about using stablecoins? Find out how to choose reliable instruments (USDT, USDC, DAI, etc.), minimize risks and maximize income in our special material.
