In August, the total market capitalisation of stablecoins rose 2.89% to $169bn, recording the eleventh consecutive monthly increase in market capitalisation.
In August, the trading volume for stablecoin pairs on centralised exchanges fell 14.2% to $848bn (as of the 23rd).
The market capitalisation of PayPal USD rose 56.6% to $960mn, recording the fifth consecutive increase in end-of-month market capitalisation for the stablecoin.
The influence of USDT in the stablecoins market continued to rise with the market cap of stablecoin reaching a new all-time high of $117bn in August.
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