“Stablecoin market capitalization has reached its highest level since April 2022, with eight consecutive months of growth, according to a new report from CCData. 📈 Despite the overall growth, stablecoin market dominance has fallen slightly to 6.07%. This is due to the recovery in prices of major crypto assets After the unexpected approval of the US Ethereum spot ETF, Tether (USDT) reached a record capitalization of $111 billion, increasing its share of the stablecoin market to 69.3%. However, trading volumes of stablecoins on centralized exchanges fell to a low of $829 billion 23 Overall, the CCData report concludes that the overall stablecoin market capitalization has recovered from losses caused by the collapse of the Terra Luna ecosystem."