CandleFocus $1.5 Trillion: Ethereum (ETH) Stablecoin Transaction Volume Hits New High
2024-09-13
Author: Content Editor
Ethereum (ETH) has seen a surge in stablecoin transfers, processing nearly $1.5 trillion in the past 45 days. This indicates increased interest in the decentralized finance (DeFi) sector. The volume of Ethereum stablecoins has surpassed its 2020 record, and the metric has been on a surging trend since March 2023. The stablecoin segment has an aggregated market capitalization of around $171 billion, with USDT, USDC, and DAI dominating over 90% of the market. Ethereum remains the second most important blockchain for USDT, with over $53 billion issued as ERC-20 tokens. Despite a boring market performance, Ethereum's second-layer ecosystem is also recovering, with a 5.5% increase in net total value locked (TVL) in the last week. Ethereum's price has increased by 1.63% in the last 24 hours, reaching $2,367.
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