📈 Stablecoins Hit Record Interest and Market Capitalization
Google recorded a historic peak in searches for 'stablecoins' — the market is feeling the effect of the recently passed GENIUS Act.
➡️ What's happening:
🟡 Demand for searches surpassed levels seen during the Terra collapse (2022)
🟡 The recent surge in interest came immediately after the signing of the GENIUS Act on July 18
🟡 The market capitalization of stablecoins reached $272 billion — 7% of the entire cryptocurrency market
🟡 98% of stablecoins are pegged to the dollar, with 60% of them from Tether
➡️ Why this matters:
🟡 Investors are seeking protection against volatility — stablecoins are becoming a 'safe haven'
🟡 Companies are launching their own digital dollars to maintain customer interest
🟡 The GENIUS Act opened the door for institutional issuers and new use cases
📌 Experts are calling this 'parabolic growth'. The next wave of mass entry into the cryptocurrency market may begin with stablecoins.
