The total volume of stablecoin transactions on Ethereum last month was significantly higher than in any previous month, but the majority of the transaction volume was contributed by the single stablecoin DAI.
As The Block previously reported, DAI is increasingly being used for complex MEV transactions, often involving flash loans, where a significant portion of DAI is minted and returned in a single transaction. One of these transactions alone added nearly $1 billion in DAI volume.
Ethereum stablecoin trading volume broke monthly records in April
2024-05-05 21:57:14
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