CandleFocus Stablecoin Market Hits $172bn — What’s Next After 12 Months of Growth: CCData Report
2024-09-27
Author: Content Editor
The September 2024 edition of CCData Research's "Stablecoins & CBDCs" report highlights the continued growth of the stablecoin market, with its market capitalization reaching $172 billion. Despite this, stablecoin trading volumes have decreased. The report also reveals that the digital yuan has experienced significant growth in transaction volume, reaching 7 trillion RMB. In addition, Societe Generale's EURCoinVertible stablecoin will be deployed on the Solana blockchain to increase its utility and adoption. Finally, CCData predicts that the U.S. Federal Reserve's interest rate cuts will impact the revenue of centralized stablecoins by reducing their returns on U.S. Treasury assets.
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