The stablecoin market cap—excluding algorithmic stablecoins–has hit a new all-time high of $168 billion.
Tether’s USDT leads the pack reaching a market cap of $117 billion.
Eleven months of steady growth led to the market capitalization of stablecoins reaching an all-time high of $168 billion. The market’s sharp decline to $135 billion by the end of 2022 set the stage for a strong recovery.
Reportedly, DefiLlama data reveals that the overall market capitalization of stablecoins has surpassed its previous high of $167 billion marked in March 2022. The revealed data has excluded the algorithmic stablecoins. It is classified as maintaining their value through computational algorithms rather than being backed by assets like gold or fiat currency.
Stablecoin market cap (Source: DefiLlama)
Amid this achievement, the trading volume of the stablecoins has been on the downside. In July, CCData reported a decline of 8.35% to $795 billion in trading volumes as activity on ce
We współpracy z: https://thenewscrypto.com/stablecoin-market-breaks-records-with-new-all-time-high/
