Stablecoin Market Cap Falls, But Tokenized Volume Surges — Market Talk

Market capitalization for so-called "stablecoins"--tokens typically pegged to the U.S. dollar--fell for the second-straight month, according to CoinDesk in a report. The firm says that stablecoin market cap fell 1% in July, to $308 billion. That makes it $14.5 billion stablecoin market cap shed since finding an all-time high in May, says CoinDesk. Driving the decline was $5.8 billion leaving Tether since May, with another $3.4 billion leaving USDC. However, the market cap for tokenized bond and money market funds rose 10.6% to $19.2 billion in July, even hitting a new all-time high of $19.3 billion as of July 27. Major cryptocurrencies are lower on this final trading day of July.([email protected])