The total supply of stablecoins as of last month reached 214 billion US dollars. At the same time, the annual transfer volume stands at $35 trillion, twice that of Visa.
According to a recent report by Dune, the number of active addresses jumped by 53% and reached a net of 30 million. Comparing the dominance of USDC and USDT, it appears that USDC’s market cap doubled to $56 billion due to recent MiCa and DIFC approvals. It also made partnerships with MoneyGram and Stripe. At the same time, USDT grew to $146 billion but is more focused on P2P remittances.
USDe by Ethena Labs went up to $6.2 billion from $146 billion and now stands as the third-largest stablecoin by market cap.
According to Dune, stablecoin liquidity primarily sits on centralized exchanges. However, DEXs, yield farming, and lending protocols generate most of their transfer volume.
When it comes to the flow of stablecoins, Ethereum is leading with a 55% market share. On the other hand, Solana and Base are dominating the transfer volume due to meme coins and DeFi. The Head of Product at Base said, “Stablecoins offer clear benefits over traditional financial instruments, especially when moving money across borders.”
Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed