The stablecoin market cap has hit a new all-time high of $168 billion after eleven consecutive months of growth. Data from DeFiLlama shows that this number has surpassed the previous peak in March 2022. One digital currency analyst believes that this increase could be the result of new capital entering the market. Tether (USDT) leads the way with a market cap of over $117 billion, while USDC reached over $34 billion. The CCData report shows that stablecoin trading volumes fell by 8.35% last month, which could be due to concerns over MiCA regulations in Europe. This trend continued in August, and the market’s trading volume now stands at just over $46 billion.
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