Stablecoins & CBDCs Report

Gain insight into the latest developments in the stablecoin and CBDC sector, focusing on analysis that relates to market capitalization, trading volume and more.

  • August 16, 2023

The total stablecoin market cap continued to decrease In August, recording its 17th consecutive month of decline, falling 1.28% to $124bn. This is the lowest stablecoin market cap recorded since August 2021.

Key takeaways:

  • Stablecoin trading volumes fell 6.14% to $453bn as volatility continued to dry up
  • In August, the market cap of USDT fell 0.62% to $83.3bn, recording the first decline in end-of-month market cap for USDT since October 2022.
  • The market cap of First Digital Labs’ FDUSD stablecoin jumped 1410% to $305mn in August, following its launch on Binance last month.
  • In August, PayPal launched its USD-pegged stablecoin, PYUSD, on Ethereum. The fully diluted market cap of the stablecoin is currently $27mn.
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Stablecoins & CBDCs Report

Gain insight into the latest developments in the stablecoin and CBDC sector, focusing on analysis that relates to market capitalization, trading volume and more.

  • August 16, 2023

Report Summary

The total stablecoin market cap continued to decrease In August, recording its 17th consecutive month of decline, falling 1.28% to $124bn. This is the lowest stablecoin market cap recorded since August 2021.

Key takeaways:

  • Stablecoin trading volumes fell 6.14% to $453bn as volatility continued to dry up
  • In August, the market cap of USDT fell 0.62% to $83.3bn, recording the first decline in end-of-month market cap for USDT since October 2022.
  • The market cap of First Digital Labs’ FDUSD stablecoin jumped 1410% to $305mn in August, following its launch on Binance last month.
  • In August, PayPal launched its USD-pegged stablecoin, PYUSD, on Ethereum. The fully diluted market cap of the stablecoin is currently $27mn.
Download report

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