The total on-chain stablecoin transaction volume surged to a new all-time high of $1.5 trillion in July, marking a significant milestone in the sector.
The price performance of these assets sparked significant on-chain activity from investors, who invested their profits in non-volatile digital assets like USDT and USDC.
In addition, the stablecoin industry saw the approval of its first major bill in the US, which helped clear the regulatory uncertainty in the sector.
With this clearer regulatory backdrop and surging adoption, stablecoin market capitalization has climbed past $278 billion, according to CryptoSlate’s data.
