Stablecoin

USDC

BUSD

Pax Dollar

Radiant Capital

<ul> 
 <li>The market share of stablecoins has decreased to 10.3% from 10.5% in June.</li> 
 <li>Pax Dollar (USDP) was the most impacted of the top ten stablecoins.</li> 
</ul> 
According to a recent analysis, the total value of all <a href="https://thenewscrypto.com/crypto-news-chaos-on-binance-us-top-stablecoins-hit-by-silent-crisis/" target="_blank" rel="noopener noreferrer nofollow">stablecoins</a> has dropped for the sixteenth month in a row, to almost a level not seen since August of 2021. According to research published on July 20 by <a href="https://ccdata.io/" target="_blank" rel="noopener noreferrer nofollow">CCData</a>, a cryptocurrency analytics platform, the stablecoin market worth dropped by 0.82% between the beginning of the month and July 17, bringing the market size of the sector to $127 billion. 
<div align="center"> 
 <blockquote class="twitter-tweet"> 
 Our latest Stablecoins &amp; CBDCs Report is now live! Key Highlights: <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2714.png" alt="✔" class="wp-smiley" style="height: 1em; max-height: 1em;">16-month fall in stablecoin market cap, now at $127bn <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2714.png" alt="✔" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDT</a> at $0.73, <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDC</a> at $0.82 on <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Binance</a>.US <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2714.png" alt="✔" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24USDP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDP</a>'s largest cap drop since 2020, now at $593mn Full Report <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/A9rFx6pbJx" target="_blank" rel="noopener noreferrer nofollow">https://t.co/A9rFx6pbJx</a>— CCData (@CCData_io) <a href="https://twitter.com/CCData_io/status/1682019895234658305?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 20, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
</div> 
The market share of stablecoins has decreased to 10.3% from 10.5% in June. Pax Dollar (USDP) was the most impacted of the top ten stablecoins, dropping 43.1% to $563 million in July, its lowest amount since December 2020. 
According to CCData’s analysis, the decline was caused in large part by MakerDAO’s decision to liquidate $500 million in USDP from its reserves after failing to generate additional income. MakerDAO is the decentralized autonomous organization underlying the Maker protocol. As of July 17th, <a href="https://thenewscrypto.com/tether-launches-usdt-on-kava/" target="_blank" rel="noopener noreferrer nofollow">Tether</a> (USDT) dominates with a 65.9% market cap share of all stablecoins. 
<h3 class="wp-block-heading" id="h-light-of-hope">Light of Hope</h3> 
Both Binance USD (BUSD) and USD Coin (USDC) saw their market caps drop, with USDC dropping 3.01% to $26.9 billion and BUSD dropping 4.57% to $3.96 billion. This is the lowest market cap for USDC since June 2021 and the seventh consecutive monthly fall. 
Despite a string of declines, June saw a 16.6 percent gain in stablecoin trade volumes to $483 billion, the first monthly increase since March. Thus, providing investors with a light of hope. 
Stablecoin trading volumes increased last month, according to CCData, which attributes the rise in part to the Securities and Exchange Commission’s (<a href="http://sec.gov" target="_blank" rel="noopener noreferrer nofollow">SEC</a>) litigation against Binance and Coinbase and the subsequent spike in the number of registrations for spot Bitcoin exchange-traded funds. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/radiant-capital-rdnt-spikes-8-could-this-be-the-trigger/" target="_blank" rel="noopener noreferrer nofollow">Radiant Capital (RDNT) Spikes 8%, Could This Be the Trigger?</a>

Consistent Stablecoin Market Decline Brings Total Cap to $127B

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TheNewsCrypto

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