CMC: Crypto’s New Crush? Stablecoins and RWAs Steal the Show 🤑

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So, CoinMarketCap’s Q2 2025 report just dropped, and it’s like the crypto world has finally decided to grow up and get a job. 🤷‍♀️ Instead of chasing every shiny new meme coin or AI token, the market is now all about the core infrastructure. Who knew?

Meme coins and AI tokens? Yeah, they’re so last year. Now, everyone’s talking about stablecoins, real-world assets (RWAs), and platforms like Hyperliquid. It’s like the crypto world is finally putting on some adult clothes and showing up to the party with a briefcase. 📂

A Shift Toward Fundamentals

The report shows that stablecoins are now the cool kids on the block, with a combined market cap of $247.9 billion. USD1, the new kid, went from $57 million to $2.2 billion, thanks to a Binance listing, a $2 billion investment from MGX, and some serious trading action on PancakeSwap. It’s like they got a promotion, a raise, and a new car all at once. 🚗

Meanwhile, USDT is still the boss, adding $14.1 billion to its market cap. USDC and PYUSD are also doing their thing, with USDC gaining $1.3 billion thanks to Circle’s IPO, and PYUSD growing by 28.5%—slow and steady, but getting closer to that $1 billion mark. 🏃‍♂️

And let’s not forget RWAs. As of June 29, 88% of tokenized assets were in private credit (58%) and U.S. Treasury debt (30%). Figure’s activity on the Provenance blockchain is driving the private credit segment, while tokenized U.S. treasuries are now worth $7.38 billion, with BlackRock’s BUIDL fund owning nearly 39% of the market. It’s like a high-stakes game of Monopoly, but with actual money. 🎲

Hyperliquid, the platform that’s been making all the noise, hit a major milestone in Q2 with $1.57 trillion traded in the past 12 months and over $300 million in revenue. In Q2 alone, they handled $648 billion in trading volume, taking more than 60% of the perpetual DEX market and outperforming their nearest competitor by a factor of 10. It’s like they’re the Usain Bolt of crypto trading. 🏃‍♂️💨

What’s behind this success? The HYPE airdrop and fair point system boosted activity, and their user-friendly interface and API kept traders engaged. Deep liquidity and consistent arbitrage opportunities also helped build a loyal user base. And let’s not forget the high-profile traders like James Wynn, who added some star power. The buyback and burn mechanism for the HYPE token also helped keep prices strong. It’s like they’ve got a secret sauce. 🌭

A Maturing Market

For the first time in six quarters, U.S. user share on CoinMarketCap increased from 18.9% to 21.7%. This was thanks to spot Bitcoin ETF developments, Circle’s IPO, and clearer regulations, which attracted both institutions and retail customers. The U.S. is now leading global traffic growth, which analysts see as a sign of a maturing investor base. It’s like the market is finally getting its act together. 🎓

At the start of 2025, the market was all about viral meme coins like Mubarak and Virtuals. But by Q2, attention shifted to more foundational sectors like RWAs and stablecoins. The report sees this as further evidence of an evolving landscape, where infrastructure is taking center stage and short-term trends are losing their shine. It’s like the market is finally realizing that it’s not just about the party; it’s about building something that lasts. 🏗️

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2025-07-13 17:39