Cryptocurrency
Ethereum-based stablecoins’ market capitalization has nearly doubled year-to-date to $6.25B
As reported by The Block, “The aggregate market capitalization of Ethereum-based stablecoins has increased by 95.38% year-to-date to $6.25 billion, according to research conducted by The Block’s Matteo Leibowitz. “The sharp surge in stablecoin activity is likely a combination of recent market volatility and the inflation of foreign currencies against the U.S. dollar, according to Leibowitz. […]
As reported by The Block, “The aggregate market capitalization of Ethereum-based stablecoins has increased by 95.38% year-to-date to $6.25 billion, according to research conducted by The Block’s Matteo Leibowitz.
“The sharp surge in stablecoin activity is likely a combination of recent market volatility and the inflation of foreign currencies against the U.S. dollar, according to Leibowitz.
“Among Ethereum-based stablecoins, Tether (USDT) continues to dominate the space with 77.84% of market share. Tether’s outstanding Ethereum-based supply has grown by 113% year-to-date to $4.9 billion from $2.3 billion…”