The total market capitalization of stablecoins across the network has surpassed 280 billion USD, setting a new historical high.

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On August 28, according to DefiLlama data, the total market capitalization of stablecoins across the network has surpassed 280 billion USD, reaching a new historical high, with a rise of 1.07% in the past 7 days, of which USDT accounts for 59.75% of the market share and USDC accounts for 24.6%. In the past month, Tether and Circle have minted stablecoins worth 8.75 billion USD. The increase in the number of on-chain minted stablecoins usually reflects the growing demand for stablecoins in the market and an increase in user participation, often correlated with bullish sentiment in the crypto market, as more funds are flowing into the crypto ecosystem.

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