• The total capitalization of stablecoins hits a new all-time high of $281 billion.
• The recent passage of the GENIUS Act in the US is a major catalyst for the growth.
• Ethereum and Tron are the primary beneficiaries, seeing their on-chain stablecoin supplies soar.

The total market cap of stablecoins, the core source of liquidity for the crypto market, has surged to a new record high of $281 billion as of August 12. At the same time, the daily average trading volume has also climbed 12% to around $187 billion.

This market continues to be dominated by two giants, Tether’s USDT and Circle’s USDC, which together command about 66% of the total market share. To put that in perspective, according to market aggregate data from Binance-backed CoinMarketCap, USDT had a circulating supply of $164.6 billion and an average trading volume of about $135 billion on Tuesday.

The undisputed king. Tether isn’t just the biggest; it is a massive on-chain. Here’s CoinEdition’s report into USDT’s on-chain footprint.

And while the U.S. dollar-backed coins still dominate, this massive growth is why other jurisdictions like China and Europe have also been exploring the market.

The post Stablecoin Valuation Hits $281 Billion: Here are the Biggest Beneficiaries appeared first on Coin Edition.

• The total capitalization of stablecoins hits a new all-time high of $281 billion.
• The recent passage of the GENIUS Act in the US is a major catalyst for the growth.
• Ethereum and Tron are the primary beneficiaries, seeing their on-chain stablecoin supplies soar.

The total market cap of stablecoins, the core source of liquidity for the crypto market, has surged to a new record high of $281 billion as of August 12. At the same time, the daily average trading volume has also climbed 12% to around $187 billion.

This market continues to be dominated by two giants, Tether’s USDT and Circle’s USDC, which together command about 66% of the total market share. To put that in perspective, according to market aggregate data from Binance-backed CoinMarketCap, USDT had a circulating supply of $164.6 billion and an average trading volume of about $135 billion on Tuesday.

The undisputed king. Tether isn’t just the biggest; it is a massive on-chain. Here’s CoinEdition’s report into USDT’s on-chain footprint.

And while the U.S. dollar-backed coins still dominate, this massive growth is why other jurisdictions like China and Europe have also been exploring the market.

The post Stablecoin Valuation Hits $281 Billion: Here are the Biggest Beneficiaries appeared first on Coin Edition.