Stablecoins add $4B, Bitcoin exchange reserves below 15%: July in charts

Key Points

1. The stablecoin market added $4 billion in July, with the GENIUS Act becoming law, boosting confidence in the sector and increasing active addresses by over 20%.

2. Bitcoin exchange reserves fell below 15% of the total supply for the first time since 2018, leading to predictions of a potential supply shock due to low availability on exchanges and OTC desks.

3. Tokenized RWAs surpassed $25 billion in value, growing by 2.5% in July, with significant increases in tokenized stocks (15%) and private credit and US Treasury debt driving the market.

4. Three US states (Missouri, New Hampshire, and Oregon) passed crypto-related laws, while Arizona vetoed a bill to create a state crypto reserve.

5. Crypto firms gained regulatory approval in seven countries, including Bybit, OKX, and CoinShares in Europe under MiCA, and Ripple and Circle sought banking licenses in the US.