The market value of stablecoins reached the highest level in the last two years

The market value of stablecoins in May 2024 increased by 0.63% compared to the beginning of the month and reached $161 billion, which is the highest level since April 2022. According to CCData, this record came after eight months of continuous growth. While Tether has a record market value of $111 billion and holds 69.3% of the market share, USDC's market value has grown for the sixth consecutive month and reached $32.6 billion.

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