Stablecoins grow against the trend, with a weekly increase of 0.43% in total market capitalization, reaching a new all-time high

ChainCatcher message: Although the crypto market is cooling, stablecoins continue to develop rapidly. According to DefiLlama data, in the past week, the total market cap of stablecoins increased by 0.43%; the circulating market cap was $317.26B, setting a new all-time high.

Meanwhile, the USDT market share continues to decline, falling below 60% to 58.03% at present. Sky’s stablecoin USDS has grown significantly; in the past week, its circulating market cap increased by 9.57%, and its circulating market cap is now $8.92B, making it the third-largest stablecoin by market cap.

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