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Over the past eight days the stablecoin market grew by 3 26 billion rising from 140 82 billion to 144 08 billion by Sunday March 3 2024 Throughout February supply Ethereum Layer 2s like Base Polygon and Optimism see increased stablecoin reserves Stablecoin activity has surged indicating rising momentum in liquidity inflows within
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This recent surge represents a more than 300 increase over average weekly activity in the past year In 2024 both networks combined for an average 1 16 billion increase The stablecoin supply in the cryptocurrency market has recently surged to over 219 billion suggesting that the market is still in the middle of a bull cycle rather than nearing its peak This
It is important to note that USDT remained the dominant stablecoin followed by USDC with both accounting for 90 of the total supply According to the research stablecoins But in fact a number of prominent companies have for years been expanding their stablecoin holdings and uses around the globe especially outside the US Stablecoin issuers have
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After a dip in supply in 2023 stablecoin circulation is now back to an all time high of 170 billion the report said and monthly payments volume on chain has tripled in the last Ethena s yield generating stablecoin USDE has grown rapidly this month now approaching 6 billion in supply
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https://www.ccn.com › news › stablecoin-market-surges-billion-nearing …
Over the past eight days the stablecoin market grew by 3 26 billion rising from 140 82 billion to 144 08 billion by Sunday March 3 2024 Throughout February supply
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