đStablecoin market cap hits a 2-year high of $161B in May 2024! đ Tether (USDT) leads the pack with a record $111B cap, taking 69.3% of the market.
đOther winners include Athena USDe, up by 11.6% to $2.61B, and BlackRockâs tokenized fund BUIDL, up 19.6% to $448M.
đUSDC's market share by trading volume increased for the second month to 8.27%, thanks to increased demand and on-chain trading activity on Base and Solana.
đDespite regulatory uncertainty and potential delisting of USDT pairs due to MiCA regulations, the stablecoin market is bouncing back.
đOn the CBDC front, US House blocks Federal Reserve from issuing CBDCs, Brazil's DREX pilot delayed to 2025, and Nigeria's e-Naira adoption remains slow.
What's your take on the stablecoin market's performance? Share your thoughts below! đ #Stablecoin #CryptoNews #DeFi