In a year filled with uncertainty in the cryptocurrency space, a new trend has been unraveling: a stablecoin exodus that has now lasted for 18 consecutive months and has seen the market dominance of stablecoins drop to 11.6%.
According to a report from CCData, the total market capitalization of the stablecoin sector in July was $124 billion amid a 18-month decline that affected most major stablecoins. While Pax Dollar (USDP), (USDC) and Binance USD (BUSD) all saw declines, the largest stablecoin by market cap, (USDT), has kept on growing.
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