Stablecoin

Patrick

Value

when

Billion

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/stablecoin-market-reaches-record-high-of-168-billion/" data-wpel-link="internal">Stablecoin Market Reaches Record High of $168 Billion</a><br></p>
<p class="p1" style="text-align: justify"><strong>Stablecoin</strong> market value reached a new record of $168 billion amid 11 months of consecutive growth. DefiLlama <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> the total stablecoin market value is now at its highest point ever, surpassing the previous peak in March 2022. The data excludes algorithmic stablecoins maintained through algorithmic mechanisms rather than being pegged to external assets like fiat currency or gold.</p> 
<h2 class="p1" style="text-align: justify" id="stablecoin-value-breaks-record">Stablecoin Value Breaks Record</h2> 
<p class="p1" style="text-align: justify">The market reached a record level of $167 billion in March 2022, but soon dropped and fell to $135 billion before the end of that year. Crypto analyst <strong>Patrick Scott</strong>, also known as Dynamo DeFi, mentioned in a post on X on August 26 that he believes this is a sign of new money entering crypto:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“And just like that, we have reached a new record high. The total stablecoin market value, excluding algorithmic assets, is now at its highest point ever, surpassing the previous high in early 2022.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-383169" src="https://coin-turk.com/wp-content/uploads/2024/08/patrick.jpg" alt="" width="500" height="396"></p> 
<p class="p1" style="text-align: justify">Although he did not speculate on what caused this increase, he explained that the rise has continued for at least eight months when asked by another user if institutional <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment</a> was behind the rally. <a href="https://en.coin-turk.com/uptober-brings-positive-momentum-to-crypto-market-will-bitcoin-rise/" data-wpel-link="internal">Tether</a> leads the stablecoin projects. Shortly after the new year began, USDT’s market value reached $91.69 billion.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-383168 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/defillama-1.jpg" alt="" width="1610" height="514"></p> 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
<p class="p1" style="text-align: justify">Throughout 2024, it recorded steady monthly gains, surpassing a market value of $117 billion for the first time in August. Circle USD also had a year full of gains, reaching a market value of over $34 billion at its peak in 2024, but still far from its all-time high of $55.8 million in June 2022.</p> 
<p class="p1" style="text-align: justify"><strong>CCData’s</strong> July report indicates that stablecoin trading volumes fell by 8.35% last month to $795 billion due to lower trading activity on centralized exchanges. The report points to MiCA regulations in Europe, which have raised concerns about the future of USDT, as factors contributing to the decline in stablecoin trading activity on centralized exchanges throughout July. This trend continued in August, and according to CoinMarketCap, the market’s trading volume is now just over $46 billion.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/stablecoin-market-reaches-record-high-of-168-billion/" data-wpel-link="internal">Stablecoin Market Reaches Record High of $168 Billion</a></h5>
<p>The post <a href="https://en.coin-turk.com/stablecoin-market-reaches-record-high-of-168-billion/" data-wpel-link="internal">Stablecoin Market Reaches Record High of $168 Billion</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Stablecoin Market Reaches Record High of $168 Billion

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