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Centralized exchange stablecoin trading volume hit a 7-month low in June

2024-07-11 17:29:24
On July 11, news, stablecoin trading volume on centralized exchanges fell to a seven-month low in June, falling to $97 billion, down 18%. Despite the decline in trading volume, the total market capitalization of stablecoins increased by 0.53% to $161 billion, the highest level since April 2022, although the growth rate has slowed since May. Against the backdrop of heightened market uncertainty, investors sought refuge, and stablecoins' market share rose from 6.22% in May to 6.83% in June. USDT dominated with a 70% market share, and other stablecoins such as Ethena's USDe also achieved significant growth. The overall slowdown in trading volume reflects broader market uncertainty.