Public interest in stablecoins has reached an all-time high this month, according to Google Trends, as the sector experiences explosive growth. Recent regulatory clarity, soaring issuance, and increasing institutional involvement are all driving the trend.
The last time stablecoins saw such attention was back in May 2022, when the TerraUSD (USTC) collapse sent shockwaves through the crypto space.
Fresh spikes in search activity were seen in mid-June and again in July, closely following the approval of the GENIUS (Guiding and Empowering Nation’s Innovation for US Stablecoins) Act, which was officially signed into law on July 18.
“People are starting to realize how big this can be,” said popular crypto analyst The DeFi Investor on X. “Stablecoins could be the key to onboarding the next billion users to the blockchain.”
Stablecoin Market Surging
On July 29, Bitwise Asset Management took to X to declare that “stablecoins are going parabolic,” referencing the massive increases in both market cap and on-chain activity.
Ethereum treasury platform SharpLink humorously added, “You can’t spell ‘stablecoins’ without ‘parabolic’.”
According to CoinGecko, the total market cap of all stablecoins has now reached a historic $272 billion—roughly 7% of the entire cryptocurrency market. A staggering 98% of this value is tied to U.S. dollar-pegged assets, with Tether leading the way, commanding 60% of the market share.
A Safe Haven in a Volatile Market
Stablecoins are also gaining popularity as a reliable shield against crypto market fluctuations.
Nassar Al Achkar, Chief Strategy Officer at CoinW exchange, noted that the surge is largely due to their role in cross-border transactions and their appeal during periods of uncertainty.
“More institutions are now entering the space with their own stablecoin offerings,” he said. “While some companies focus on building digital asset reserves, others are creating their own stablecoins as a more secure way to engage with crypto while meeting investor demand.”
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