🚀 Crypto News 2024:
- Stablecoin continues to grow for 10 consecutive months, accounting for 6.93% market share.
- Tether (USDT) reached an all-time high of $116 billion, accounting for 69.6% market share.
- PayPal USD (PYUSD) increased 17.9% to $589 million, also reaching a new high.
📉 However, stablecoin trading volume decreased by 8.35% in July due to reduced activity on centralized exchanges.
🌍 New MiCA regulation in Europe requires stablecoin issuers to have an e-money license and maintain large reserves, affecting USDT trading activity.
📈 USDC increased sharply, accounting for 73.5% market share in the top 10 stablecoins. USDC trading on centralized exchanges increased 48.1% to $135 billion thanks to MiCA compliance.
💡 Bankless analysis: USDC dominates Solana, accounting for ~70% of this chain's stablecoin supply. Circle and Solana Foundation's strategy has attracted many trading platform developers and integrators.
👉 What do you think about the development of stablecoins? Comment below! 💬