USDC Exchange Volume Surges 48% in July, Hitting $135 Billion

IconCryptoNewsTerminal Staff01 Aug, 2024

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USDC Exchange Volume Surges 48% in July, Hitting $135 Billion

July USDC Exchange Volume Reaches $135 Billion, Marking a 48% Increase According to a report by crypto data analytics firm CCData, the USDC trading volume on centralized exchanges (CEXs) hit $135 billion in July. This represents a significant 48% rise compared to the previous month. The surge in USDC trading activity coincides with the implementation of the European Union's Markets in Crypto Assets (MiCA) regulation. Over the same period, USDC's market capitalization also saw an uptick, increasing by 5.4% to $33.6 billion. This growth contributed to a 2.1% increase in the overall stablecoin market cap, which now stands at $164 billion.

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