June's Crypto Surge: Stablecoins Steal the Show Amid Market Volatility

June was a wild ride for the crypto markets, with a modest uptick overall, but stablecoins? They absolutely crushed it, according to the latest scoop from Binance Research.

The market was buzzing with bullish energy all month, yet it was the stablecoins that everyone couldn't stop talking about. On July 3rd, Binance Research dropped a report that blew the lid off the past month's trends. The big shocker? Stablecoin volume hit a whopping $253.7 billion, just as the U.S. Senate passed groundbreaking legislation.

The Genius Act in the Senate was the spark that ignited stablecoin mania. It threw these digital assets into a regulated framework, drawing in more companies eager to jump on the bandwagon. Circle's USDC was leading the charge, snagging a massive 79% of net stablecoin issuance in June.

But wait, there's more! The stablecoin hype was a launchpad for growth in other parts of the crypto world. Despite the rollercoaster ride caused by the Israel-Iran conflict, the total crypto market cap climbed 2.62% in June. And get this—Bitcoin (BTC) was flexing hard, outpacing the altcoins with its dominance soaring to 65%, the highest it's been since the start of 2021.

Crypto firms were raking in the big bucks, especially those smart enough to go all-in on Bitcoin treasury strategies. We're talking quadruple-digit returns for some, which totally lured in fresh faces. Japanese firm Metaplanet even dethroned Strategy as the top dog in Bitcoin plays on the stock market.

EFT Inflows Were Strong, Despite Volatility

Even with all the market madness, ETF inflows were rock solid, says the Binance Research report. Bitcoin and Ethereum (ETH) ETFs saw net inflows of $4.5 billion and $1.16 billion, respectively.

But it wasn't all smooth sailing. Traders faced brutal liquidations, showcasing the stark difference between those playing the short game and the long-term believers. June 22 brought the biggest three-day liquidation event since February, mainly because the Israel-Iran conflict was heating up.

The war, with the U.S. jumping in directly, had everyone on edge about oil prices potentially skyrocketing to new highs. This sparked fresh fears about inflation and put even more pressure on risk assets, including our beloved crypto.