The stablecoin market is experiencing significant growth, with the total supply reaching its highest level in nearly two years, driven largely by the expansion of USDe, which has rapidly scaled to a supply of $2.3 billion in less than a month. This makes USDe the fastest-growing stablecoin in history. The number of addresses holding stablecoins has also surged, now exceeding 93 million, a 15% increase this year, and are set to settle over $20 trillion in 2024. Tether remains the most held stablecoin with 76 million addresses, followed by USDC with 9.8 million, and BUSD with 6 million. The Ethereum ecosystem, including mainnet and Layer-2 networks, has seen active weekly wallets surpass 10 million, with significant contributions from platforms like Base and Polygon.
The Rise of Ethena After scaling supply to $2.3B in <1 month, USDe is now the fastest growing “stablecoin” of all time. At the root of Ethena’s early success lies a fundamentally different approach to what the market has conceptualized as the “synthetic dollar” 🧵 https://t.co/ELYHIZ1E5V
Data tracked by @rwa_xyz shows the number of addresses holding stablecoins has increased 15% to over 93 million this year. Reports @godbole17. https://t.co/DQ6EbpTJhB
Currently, 93.5M crypto addresses are holding stablecoins… 🤩 Tether 76M. 😄 USDC 9.8M. 😊 BUSD 6M. Get an overview on tables from @CharlieYouAI: https://t.co/QKnVS3ZGKF Chart via: @rwa_xyz https://t.co/BW29oS4VL1
Active weekly wallets in the Ethereum ecosystem – which includes the mainnet and Layer-2 networks – have surged past 10 million🚀 @base and @0xPolygon are driving most of the growth. Read more: https://t.co/c6qSFXGRnQ https://t.co/Oa5TgHPrVx
Stablecoins are approaching 100 million holding addresses and are on track to settle over $20 trillion in 2024 🤯 Check out our stablecoins feature in the latest issue of OurNetwork to learn more! https://t.co/LnC8DViYW3
Stablecoin supply hits highest level in nearly two years amid USDe growth https://t.co/cDrhGNUt9f