According to a report on stablecoins and crypto payments released by cryptorank on August 12th, as cited by CoinMeta, the total market value of stablecoins in July was approximately $308.3 billion, experiencing net outflows for the third consecutive month, with a cumulative outflow of about $13.3 billion from May to July. However, usage on the blockchain continues to grow; USDT recorded a historic high of 861.4 million transactions in July, and the amount of money transferred on the chain amounted to about $3.6 trillion, which is more than twice the $1.4 trillion transferred on USDT. Meanwhile, the monthly recharge volume for stablecoin payment cards exceeded $1 billion for the first time, reaching about $1.084 billion, representing a 15.9% increase from the previous month. In July, the payment sector also received about $244 million in financing, ranking second among crypto VC financings.