US GENIUS Act sparks stablecoin boom with record $1.5 trillion transaction volume in July

The entire stablecoin transaction quantity on-chain rose to a brand new highest level of $ 1.5 trillion in July, which marks an essential milestone within the sector.

In accordance with the information from Sentora (previously Intotheblock), this determine represents a pointy improve within the $ 1.26 trillion processed in June and surpasses the earlier Excessive that was proven in August 2024, when the Volumes amounted to $ 1.4 trillion.

Within the meantime, the July figures revealed that the USDC of Circle de Stablecoin market dominated, accounting for nearly 50% of the overall quantity. USDC transactions reached round $ 748 billion in July.

Within the meantime, Tether’s USDT, the most important stablecoin, adopted by circulating the provide, adopted with a quantity of $ 420 billion. The decentralized DAI Stablecoin secured third place with $ 261 billion in transactions.

Why Stablecoin -Quantity rose in July

The exceptional improve within the quantity of Stablecoins might be attributed to varied elements, together with the report efficiency of Bitcoin and Ethereum in July.

Final month the Bitcoin worth rose to a brand new highest level of greater than $ 123,000, whereas the ETH worth additionally approached the $ 4,000 threshold.

The value efficiency of those belongings led to vital actions on the chain of buyers, who invested their revenue in non-fighter digital belongings resembling USDT and USDC.

Furthermore, the Stablecoin trade noticed the approval of its first main invoice within the US, which helped to erase the authorized uncertainty within the sector.

The Genius Act, signed on July 19, has arrange clear pointers for stablecoins and monetary merchandise with digital belongings. The brand new laws embody reserve necessities and supervision by the Federal Reserve, which is able to most likely promote extra belief and stability within the sector.

Because of this, outstanding monetary establishments resembling JPMorgan and different international corporations resembling Meta have investigated the usage of Stablecoins for cross -border transactions and different monetary providers that additional legitimize the market.

With this clearer regulatory background and growing acceptance, the market capitalization of Stablecoin has elevated in keeping with $ 278 billion, in keeping with CryptoSlate’s info.

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