The trading volume of the stablecoin Circle (USDC) increased in July, thanks to rising market flows and new European regulations for digital assets.

According to a report issued by "CCData" on July 31, the trading volume of USDC pairs on centralized exchanges reached $135 billion as of July 25, while its market value rose by 5.4% to $33.6 billion.

With the implementation of the regulatory framework for cryptocurrency markets in the European Union (MiCA), "Circle" became the first issuer of stablecoins to be approved by regulators in the region on July 1.

During the same period, Tether (USDT) grew at a slower rate, but it recorded a record increase in market value for 11 consecutive months, reaching $114 billion. Additionally, Tether's market value rose by 1.6% in July.

According to "DefiLlama", USDT holds the largest market share among stablecoins, estimated at 70% of the total value of other coins. Furthermore, on July 31, "Tether" reported record profits of $5.2 billion in the first half of 2024.