- Binance report said that stablecoins could bridge the gap between crypto and traditional finance
- The report said that NFT trading volumes rose 7.22% in June
- Ether clocked an expansion in its market share, the insights added
The month of June proved to be incredible for the stablecoin market as US’ GENUIS Act inched closer to reaching President Donald Trump for the final approval. In a monthly wrap-up report for June, Binance Research said that the total stablecoin supply crossed $250 billion for the first time, reflecting a rise of 2.57 percent in June.
The US Senate passed the stablecoin-focussed bill by a vote of 68-30 in June. The GENIUS Act is now with the US House of Representatives – which is checking how it could be aligned with a companion bill called the STABLE Act of 2025 before being presented to Trump for the final approval.
In its report shared with CoinHeadines on Friday, June 11, Binance Research said that corporations like Shopify, Stripe, and JPMorgan are already expanding their trials of stablecoin usecases.
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“The growth of stablecoins is proving to be one of the strongest bridges connecting crypto to mainstream finance. We are witnessing stablecoins increasingly being used by corporates, fintechs, and even traditional financial institutions for payments, settlements, and treasury management,” said Kushal Manupati, Regional Growth and Ops Lead of South Asia, Binance, commenting on the development.
The market share of Circle’s USDC stablecoin rose marginally from 24.3% to 24.4%. The report did claim that Tether, which is the largest stablecoin in existence, has continued to clock consistent overall growth.
In other insights, the report noted that NFT trading volumes rose 7.22% in June, led by a resurgence in Immutable – an Ethereum-based layer-2 blockchain for NFTs and blockchain gaming.
In addition, crypto tokens including Ether clocked an expansion in its market share and HYPE emerged as the top performing altcoin in June, growing by 24.7 percent and surpassing $1.6 trillion in cumulative volume.
“The insights from June highlight the crypto market’s remarkable ability to adapt and mature. This sustained momentum underlines growing confidence in virtual digital assets as a foundational layer of the future global financial system,” Manupati added.
