Stablecoins are indispensable in DeFi, reflecting market liquidity and investment trends. Although Ethereum commands a staggering 61.01% of TVL in DeFi protocols, deeper insights emerge from the distribution of stablecoins. Ethereum controls 49.87% of the stablecoin market cap, followed closely by Tron at 35.52%. These metrics unveil more about the true liquidity landscape, particularly when examining the issuance and bridging of stablecoins. While Ethereum showcases hefty on-chain issuance, one blockchain stands out for its unexpected cross-chain activity...
Ethereum’s grip on DeFi challenged by Tron’s stablecoin surge Ethereum’s grip on DeFi challenged by Tron’s stablecoin surge
Ethereum's stablecoin dominance faces competition from Tron, which shows negligible bridging activity compared to high interchain movement on BSC and Arbitrum.
3 min read
Updated: May. 29, 2024 at 3:49 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Tether
$1.00111
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
USD Coin
$0.99995
USD Coin (USDC) is a stablecoin fully backed by the US dollar and developed by the CENTRE consortium.
Solana
$254.948
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Arbitrum
$0.80706
Arbitrum is a type of technology known as an optimistic rollup.
