In June, the total market capitalisation of stablecoins increased by 0.53% to $161bn. This represents the ninth consecutive monthly rise, reaching the highest market cap since April 2022.

• The market capitalisation of European stablecoins fell 2.51% to $307mn, recording the lowest market capitalisation since November 2023.
• Trading volumes for stablecoin pairs on centralised exchanges have fallen by 18.0%, marking the third consecutive month of decline.
• In June, the market capitalisation of PYUSD rose 86.3% to $499mn, marking a new all-time high for the asset.

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