Total Stablecoin Market Cap Surpasses $280 Billion, Reaching a New All-Time High

BlockBeats News, August 28th, according to DefiLlama data, the current total value locked of stablecoins across all networks has surpassed $280 billion, hitting a new all-time high, with a 7-day growth of 1.07%. Among them, USDT holds a market share of 59.75%, and USDC holds a market share of 24.6%.

Over the past month, Tether and Circle have minted a total of $8.75 billion worth of stablecoins. The increase in on-chain minted stablecoins usually reflects the growing demand for stablecoins in the market and increased user participation, often associated with bullish sentiment in the cryptocurrency market, as more funds are flowing into the crypto ecosystem.