CCData – Stablecoins and CBDCs

CCData is a reputable source for digital asset data and settlement indices. They have released a report focusing on stablecoins, which are pegged to the value of an asset and play a crucial role in trading digital assets. The report discusses recent concerns with stablecoins like Tether's collateral and the collapse of TerraUSD. CCData's report covers key developments in the stablecoin sector, analyzing market capitalization, trading volume, collateral types, and pegged assets. The stablecoin market capitalization rose 2.11% in July, marking the tenth consecutive monthly increase. European stablecoins struggled due to MiCA regulations, with some stablecoins seeing declines in market capitalization. Despite a decrease in trading volume in July, there are expectations for an increase in monthly volumes due to new developments in the industry. USD Coin (USDC) saw a surge in market capitalization and trading volume in July, benefiting from MiCA compliance.