In on-chain stablecoin transactions, USDC takes a leading position because the volume of its accumulations in July exceeded a new record: $1.5 trillion.
The milestone indicates new growth within the decentralised finance market, which has been saturated by a constant increase in the volume of settlements on-chain since January. On-chain analytics company Sentora verified this growth, indicating that USDC will continue to reign in 2025.
Stablecoin settlements hit record highs
July saw an even greater number of on-chain stablecoin activity than previous monthly peaks. It exceeded the April figures of $1.44 trillion and those set in May of $1.39 trillion. In January and February, the volumes were less than 1.2 trillion. Settlements in stablecoins have been higher than that since March. August has already reached the mark of $200 billion over 5 days, so it is set to surpass the mark of 1.2 trillion.
Stablecoins monthly on-chain volume (Source: Sentora)
Increasing participation in DeFi is associated with rising on-chain volumes. Statistics on Defillama reveal that the total value locked in DeFi increased 3 percent in a day to 137.33 billion. The data contained in Sentora further indicates that DeFi TVL has hit a three-year high of almost $179 billion due to the increase of ETH towards $4 000 and the inflow of liquid staking protocols.
USDC leads stablecoin transactions
USDC in Circle is the dominant on-chain stablecoin, with 40-48 percent of all stablecoin DeFi transactions processed this year. USDT of Tether comes in second with 20-27 percent. The router set-up fluctuations DAI are 17- 33 percent, whereas Ethena USDe has a smaller share at 3 percent. Together, USDC, USDT, and DAI represent more than 90 percent of the transaction volume of stablecoins in a month.
Despite the dominance of USDC in usage, USDT remains to expand into DeFi. Its provision on Aave has been increased by 123 percent year-to-date and is close to $7.5 billion. This indicates higher confidence in USDT among users in DeFi activity, even though USDC has a leading grip in the percentage of transactions.
Stablecoin supply nears $370 billion
USDT is also the largest stablecoin in terms of supply. It commands 61.41 percent of the overall market and has a market cap of 164.70 billion dollars. The supply of USDC is 63.85 billion dollars. USDe contains 9.517 billion dollars, USDS of sky dollar 4.87 billion, and DAI 4.33 billion. USDe rose by 79.47 percent within one month, whereas Falcon USD increased by 102 percent, hitting the threshold of 1.09 billion.
The market cap of stablecoin increased to $268.20 billion with a gain of $13 billion in a month. This is the growth trend that is enabled by improved regulation. Reneging on its promise in the SEC, the SEC recently reclassified some fully-backed stablecoins as cash equivalents. This action increases the level of trust in wider systems of regulation.
The post USDC Leads On-Chain Activity as Stablecoin Settlement Tops $1.5 Trillion in July first appeared on Coinfea.
