#Stablecoin Market Cap Hits New High#

The stablecoin market remains hot, with market capitalization continuously climbing and recently hitting new highs. According to the latest data, the total market cap of stablecoins has surpassed $210 billion, reaching $212.99 billion, an increase of 3.02% in the past week. Among them, the market cap of USDC is particularly noteworthy, reaching $50.86 billion, an increase of 11.23% in the past 7 days. In addition, the market cap of stablecoins on the Solana chain has also exceeded $10 billion, reaching $10.18 billion, setting a new historical high, with a growth rate of 69.36% in the past 7 days. The recent issuance of over 71 million USDC by USDC Treasury on the Ethereum chain also reflects the continued growth in market demand for stablecoins. The continuous increase in the market cap of stablecoins is attributed, on the one hand, to their value as a safe haven asset and payment instrument in the cryptocurrency market, and on the other hand, it reflects the continued bullish sentiment towards cryptocurrencies.