In July, the total market capitalisation of stablecoins rose 2.11% to $164bn, recording the tenth consecutive increase in the end-of-month market capitalisation.

• Trading volume for stablecoin pairs on centralised exchanges fell by 8.35% to $795bn (as of the 25th), marking the fourth consecutive monthly decline.
• The market cap of TetherUSD (USDT) rose by 1.61% to $114bn, continuing to record a new all-time high for the stablecoin with its eleventh consecutive monthly increase in market capitalisation.
• In June, the market capitalisation of PYUSD rose 86.3% to $499mn, marking a new all-time high for the asset.