Stablecoins Shine as Crypto Markets Rise Modestly in June
in June, the crypto market saw a modest rise, but stablecoins were the real stars, according to Binance Research. The market stayed bullish yet volatile,with stablecoins grabbing much attention.
on July 3, Binance Research released a report highlighting JuneS trends. Stablecoin volume hit $253.7 billion, partly due to the Genius Act’s passage in the U.S. Senate. This act regulates stablecoins, encouraging more companies to join the space.
Circle’s USDC led the way, making up 79% of new stablecoin issuance in June. This regulation also boosted othre crypto areas. The total market cap grew by 2.62%, despite the Israel-iran conflict’s volatility. Bitcoin (BTC) outperformed altcoins, with its dominance reaching 65%, the highest since early 2021.
Crypto firms, especially those using Bitcoin treasury strategies, saw significant gains. Some companies reported quadruple-digit returns.Metaplanet, a Japanese firm, became the top-performing Bitcoin stock.
ETF inflows were strong despite market turbulence. Bitcoin and Ethereum (ETH) ETFs saw net inflows of $4.5 billion and $1.16 billion, respectively. Tho, traders faced major liquidations, showing the divide between short-term speculators and long-term investors. The Israel-Iran conflict and U.S. involvement added pressure to risk assets, including crypto.
