Stablecoin Inflows Reach $46B Amid Rising Demand
Surge in Stablecoin Inflows: Stablecoins saw over $46 billion in net inflows in the last 90 days, with Tether's USDT leading at $19.6 billion, followed by USDC at $12.3 billion and Ethena's USDe at $9 billion, indicating a strong demand for dollar-pegged assets in the crypto market.
Ethereum's Dominance: Ethereum remains the top blockchain for stablecoins, holding $171 billion of the circulating supply, while USDT and USDC dominate the market with nearly 59% and 25% shares, respectively, despite a rise in competition from other chains.
Increased Demand in Q3: Inflows surged by over 324% in Q3 compared to Q2, with USDT and USDC being the primary contributors, reflecting a broader recovery in liquidity for stablecoins, which are essential for collateral and settlement in crypto markets.
Weakness in Transactional Activity: Despite rising inflows and market capitalization, monthly active addresses and transfer volumes declined, suggesting that while stablecoin issuance is increasing, transactional usage is still sensitive to market conditions.
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