Stablecoin market capitalization reached an all-time high in April amid strong performance across cryptocurrency sectors, CoinDesk Data said in a report released Friday (May 2).

After growing by 2.12% in April and seeing 19 consecutive months of gains, the stablecoin market cap reached $238 billion, according to the report.

This growth was outpaced by that of other cryptocurrency sectors in April, however, so the market share held by stablecoins declined from 8.64% in March to 7.88% in April, the report said.

The market cap of non-USD fiat stablecoins leaped 30% in April to reach $533 million. The report attributed the surge in demand to the volatility of the U.S. dollar that has been seen during the current U.S. tariff…