According to the latest market data, the stablecoin market in July showed impressive performance. The adjusted on-chain trading volume of stablecoins achieved significant growth, reaching $997.4 billion, an increase of 18.8% from the previous month. At the same time, the supply of stablecoins also showed growth trends, with the supply of stablecoins increasing by 1.2% from last month, reaching $144.3 billion. Among them, USDT stood out in the market, accounting for 78.9% of the market share, further consolidating its leading position in the stablecoin field. Apart from the performance of stablecoins, the market conditions of Bitcoin and Ethereum are also worth paying attention to. Bitcoin's adjusted on-chain trading volume achieved a growth of 34.7%, while Ethereum grew by 27.7%, jointly driving the overall growth of the total adjusted on-chain trading volume of Bitcoin and Ethereum, reaching $445 billion. This indicates that despite the fluctuating market environment, these major cryptocurrencies still maintain strong vitality and growth momentum. In summary, the July stablecoin market shows strong growth power, especially under the leadership of USDT, with both the issuance and supply of stablecoins showing increases in the market share. Meanwhile, the trading volume of mainstream cryptocurrencies such as Bitcoin and Ethereum also maintains steady growth, injecting new vitality into the recovery of the entire cryptocurrency market.