Stablecoin market cap has shrunk by $10 billion since May, but analyst sees no reason to panic

The market shrank by $7.7 billion in June alone, the largest dollar amount since May 2022's Terra-Luna crash, but stablecoins will likely resume their long-term growth, one analyst said.

• The stablecoin market has shrunk by roughly $10 billion since its May peak, including a $7.7 billion decline just in June.
• On a percentage basis, though, it was just a 3% fall; still modest compared with the 26% contraction during the 2022 crypto bear market.
• Newer regulated issuers are beginning to chip away at the dominance of USDT and USDC, according to data.

1. 1 Mizuho downgrades Circle to underperform, cuts price target to $50 on Open USD threat 13 minutes ago
2. 2 Wikipedia blackout could hurt how AI engines like ChatGPT understand crypto 33 minutes ago
3. 3 U.S., UK move to align rules for tokenized finance across world's largest financial markets 43 minutes ago
4. 4 JPMorgan says Hyperliquid's rise threatens Circle's USDC economics 2 hours ago
5. 5 Ethereum Foundation spinout EthSystems targets banks with blockchain privacy technology 2 hours ago
6. 6 For pension funds, tokenization’s real play is balance-sheet management, Fidelity’s Lai says 3 hours ago
7. 7 Hut 8 price target hiked to $165 at Benchmark as AI pivot reshapes valuation 4 hours ago
8. 8 U.S. June CPI fell 0.4%, likely cooling move toward Fed rate hikes 4 hours ago
9. 9 ECB picks firms including Deutsche Bank, Revolut for digital euro pilot 5 hours ago
10. 10 Japan’s biggest card network taps Circle to bring stablecoins to 40 million merchants 5 hours ago

Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months

CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.

Why it matters :

CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.

For pension funds, tokenization’s real play is balance-sheet management, Fidelity’s Lai says

U.S. June CPI fell 0.4%, likely cooling move toward Fed rate hikes

Bitcoin’s great rotation: Long-term holders pass supply to a new generation of buyers

Disclaimer: This article is for information only and does not constitute investment advice. Digital assets involve substantial risk.