In June, the trading volume of stablecoins on centralized exchanges hit a seven-month low, but the total market capitalization increased

2024-07-11 17:25:34

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ChainCatcher news, citing CCData reported by BeInCrypto, in June, the trading volume of stablecoins on centralized exchanges fell to the lowest point in seven months, decreasing by 18% to $97 billion.

Despite the decline in trading volume, the total market capitalization of stablecoins grew by 0.53%, reaching $161 billion, the highest level since April 2022, although the growth rate has slowed since May. Amid increasing market uncertainty, investors are seeking safe havens, and the market share of stablecoins rose from 6.22% in May to 6.83% in June. USDT remains dominant, with a market share of 70%, while other stablecoins like Ethena's USDe also saw significant growth. The overall slowdown in trading volume reflects broader market uncertainty.

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