The total stablecoin transaction volume on-chain rose to a new highest point of $ 1.5 trillion in July, which marks an important milestone in the sector.
According to the data from Sentora (formerly Intotheblock), this figure represents a sharp increase in the $ 1.26 trillion processed in June and surpasses the previous High that was shown in August 2024, when the Volumes amounted to $ 1.4 trillion.
In the meantime, the July figures revealed that the USDC of Circle de Stablecoin market dominated, accounting for almost 50% of the total volume. USDC transactions reached around $ 748 billion in July.
In the meantime, Tether’s USDT, the largest stablecoin, followed by circulating the offer, followed with a volume of $ 420 billion. The decentralized DAI Stablecoin secured third place with $ 261 billion in transactions.
Why Stablecoin -Volume rose in July
The remarkable increase in the volume of Stablecoins can be attributed to various factors, including the record performance of Bitcoin and Ethereum in July.
Last month the Bitcoin price rose to a new highest point of more than $ 123,000, while the ETH price also approached the $ 4,000 threshold.
The price performance of these assets led to significant activities on the chain of investors, who invested their profit in non-fighter digital assets such as USDT and USDC.
Moreover, the Stablecoin industry saw the approval of its first major bill in the US, which helped to erase the legal uncertainty in the sector.
The Genius Act, signed on July 19, has set up clear guidelines for stablecoins and financial products with digital assets. The new regulations include reserve requirements and supervision by the Federal Reserve, which will probably promote more trust and stability in the sector.
As a result, prominent financial institutions such as JPMorgan and other global companies such as Meta have investigated the use of Stablecoins for cross -border transactions and other financial services that further legitimize the market.
With this clearer regulatory background and increasing acceptance, the market capitalization of Stablecoin has increased according to $ 278 billion, according to CryptoSlate’s facts.