Stablecoins & CBDCs Report August

Gain insight into the latest developments in the stablecoin and CBDC sector, focusing on analysis that relates to market capitalisation, trading volume and more.

August 28, 2024

Stablecoins & CBDCs Report August

Gain insight into the latest developments in the stablecoin and CBDC sector, focusing on analysis that relates to market capitalisation, trading volume and more.

August 28, 2024

Report Summary

In August, the total market capitalisation of stablecoins rose 2.89% to $169bn, recording the eleventh consecutive monthly increase in market capitalisation.

In August, the trading volume for stablecoin pairs on centralised exchanges fell 14.2% to $848bn (as of the 23rd).
The market capitalisation of PayPal USD rose 56.6% to $960mn, recording the fifth consecutive increase in end-of-month market capitalisation for the stablecoin.
The influence of USDT in the stablecoins market continued to rise with the market cap of stablecoin reaching a new all-time high of $117bn in August.

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