The stablecoin market has shown significant growth, with the total market cap reaching $160 billion, the highest level since the Terra crash. Notably, the supply of DAI has increased year-over-year, while USDT's supply rose from 85 billion to 110 billion, and USDC's from 31 billion to 34 billion. Coinbase's App Store ranking for its trading app is now at #253, and USDT.D is losing momentum. Additionally, $LINK has shown strong market momentum, and there has been notable growth in USDe. A new metric, Stable Coins by network, will track dominance by platforms like Solana and Ethereum, with strategic choices evident in their preferred stablecoins.
April Solana Stablecoin Update powered by @artemis__xyz 1. We are sitting at $3,508,952,000 issuance with USDC, USDT, and EURC. An additional 500M USDC minted @circle went to Binance. Long tail still insignificant. https://t.co/LAqlVVnC1k
Stablecoin supply hits highest level in nearly two years amid USDe growth https://t.co/cDrhGNUt9f
#Stablecoin Market Hits $160 Billion, Reaching Heights Not Seen Since Terra’s Crash https://t.co/5yQrfDYUeJ
Stable Coin Dominance - April 22 I will start posting this new metric - Stable Coins by network. It is clear @solana and @base have strategically chosen $USDC and @ethereum 51% dominance is mostly in $USDT. We will watch this over time and see what we can deduce. @jerallaire… https://t.co/lrDebyCttR
Stable Coin Dominance - April 22 I will start posting this new metric - Stable Coins by network. It is clear @solana and @base have strategically chosen $USDC and @ethereum 51% dominance is mostly in $USDT. We will watch this over time and see what we can deduce. https://t.co/wVGdDbWoqP
DAI supply is finally up YOY at the same time, USDT went from 85b to 110b, and USDC went from 31b to 34b takeaway: stablecoins have massive network effects, and gains largely accrue to the current market leader https://t.co/sjSzUlL7kM
Higher (for now) ✅ Agg stablecoin market cap continues to rise ✅ USDT.D losing momentum on 4H ✅ Coinbase App store rank: #253 ✅ $LINK is leading the market w/resumption of momo https://t.co/oWhAgCYzbx