All-Time High For Stablecoins, Altcoin Updates, and September Preview

Sept. 4, 2024

Join Matt and Nick as they break down August’s market performance, stablecoin supply hitting all-time highs, and the market outlook for September. They also discuss certain altcoins updates including outages for the TON blockchain and MakerDAO’s rebrand.

Key Takeaways 

• August was a rough month for crypto—led by BTC (-8.7%), ETH (-22.3%) and SOL (-21.1%)—while major U.S. stock indices managed to record their fourth straight monthly gain.
• Seasonality indicates that it will be more of the same in September, given it has historically been one of BTC’s worst months.
• Stablecoin supply hit all-time highs, indicating increased demand to use blockchains.
• Among the altcoin updates covered: TON struggles with network performance and MakerDAO rebrands to Sky.