Report: Total Stablecoin Market Cap in July Decreased to Approximately $308.3 Billion, Marking the Third Consecutive Month of Net Outflows

BlockBeats News, August 17, CryptoRank Research released a report stating that the total market capitalization of stablecoins in July was approximately $308.3 billion, a slight 1% decrease from June, maintaining a range between $300 billion and $320 billion for the 10th consecutive month. From May to July, there was a total outflow of approximately $13.3 billion, marking the longest period of stablecoin net outflows since 2022.

The usage of USDT and USDC has further differentiated. In July, the on-chain transaction volume of USDT hit a record high of 861.4 million transactions, representing an 11.4% increase from the previous month; meanwhile, USDC transactions dropped to 656.7 million transactions. In terms of on-chain transfer amount, USDC leads with around $36 trillion, surpassing USDT's $14 trillion, approximately 2.6 times that of the latter.

Stablecoin payment applications continued to grow, with stablecoin payment card recharge amount in July surpassing $1 billion for the first time, reaching approximately $1.084 billion, a 15.9% increase from the previous month. Among them, USDC recharge amount increased by 46%, significantly higher than USDT's 7%. Additionally, in the payment sector, there was about $244 million in financing in July, ranking second in the cryptocurrency industry in terms of financing size.