Stablecoin card top-up volume reached about $1.084 billion in July, the first time monthly recharge volume has crossed the $1 billion mark, according to a CryptoRank Research report published on Aug. 17. The total was up 15.9% from June, with USDC recharge volume rising 46% month on month, outpacing USDT's 7% increase. The report said the broader stablecoin market capitalization stood at about $308.3 billion in July, down around 1% from June and remaining within a $300 billion to $320 billion band for a tenth straight month. From May through July, net outflows totaled roughly $13.3 billion, which CryptoRank described as the longest stretch of sustained stablecoin net outflows since 2022-2023. Usage patterns continued to diverge between USDT and USDC: USDT's on-chain transaction count hit a record 861.4 million in July, up 11.4% from the previous month, while USDC transactions fell to 656.7 million. By transfer value, however, USDC led with about $3.6 trillion versus USDT's $1.4 trillion, or roughly 2.6 times as much. CryptoRank also said payment-related fundraising reached about $244 million in July, ranking second across the crypto industry.