Gain insight into the latest developments in the stablecoin and CBDC sector, focusing on analysis that relates to market capitalization, trading volume and more.
July 20, 2023
Report Summary
In July, USDT continued to exert its dominance, recording a new all-time high market cap of $83.8bn (as of July 17th). TetherUSD now accounts for 65.9% of the stablecoins sector by market cap.
Key takeaways:
The trend surrounding the declining market capitalisation of stablecoins continued for the 16th consecutive month, falling 0.82% to $127bn.
Stablecoin trading volume rose 16.6% to $483bn in June, recording the first increase in monthly trading volume since March as the filing of spot ETF applications by multiple TradFi companies resulted in a rise in trading activity.
The price of USDT and USDC fell as low as $0.73 and $0.82 on Binance US in July.
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