Stablecoin Market Cap Surges 3800% to $165 Billion, Highest Since May 2022 – Crypto News – Crypto News
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Stablecoin Market Cap Surges 3800% to $165 Billion, Highest Since May 2022 – Crypto News

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The stablecoin market has experienced significant growth, with its market cap rising from $4 billion in early 2020 to approximately $165 billion in July 2024, marking a 3800% increase

The stablecoin market has experienced significant growth, with its market cap rising from $4 billion in early 2020 to approximately $165 billion in July 2024, marking a 3800% increase.

This surge follows a period of stagnation, with the market cap reaching its highest level since May 2022. The increase in stablecoin liquidity since July 2 is seen as a positive signal for the broader cryptocurrency market, reflecting growing demand and confidence in these digital assets.

The total stablecoin market cap has finally started to break $160 billion after 3 months of remaining relatively flat, highlighting increasing demand and growing confidence in these assets.

However, Bitcoin’s price rise has been hindered by stagnant USDT liquidity, with market cap growth falling from 6.6% in March to 0%, according to an analysis by CryptoQuant.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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