According to The Block, Ethereum's on-chain stablecoin trading volume has reached an all-time high of $1.46 trillion, more than doubling from $650 billion at the start of the year.
Among them, the decentralized stablecoin DAI led with $960 billion in transaction volume. However, after data cleaning and filtering, DAI's transaction volume lagged behind USDT and USDC, indicating that there may be fake transactions and a large number of transfers.
According to the report, the growth in stablecoin usage is more likely to indicate a maturing ecosystem. The higher the volume of stablecoins, the deeper the liquidity pool, the fewer slippages, and the higher the overall efficiency of the market.
The transaction volume of stablecoins on the Ethereum chain reached a record high of $1.46 trillion
2024-09-10 20:44:27
The block data display ethereum stablecoin transaction volume 1.46desk3cryptocurrencydesktopCrypto News
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