Solana Sees Explosive Stablecoin Growth – Here’s How Much Supply Is Held In T...
The leading Solana blockchain is experiencing a notable uptick in on-chain activity alongside its remarkable increase in price to the $234 mark in the past few weeks. In the midst of the ongoing spike in on-chain activity, a massive supply of stablecoins has been observed on the blockchain. Rapid Stablecoin Expansion on The Solana Blockchain […]
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While the stablecoin economy has seen fluctuations from specific stablecoin tokens either increasing the project’s number of tokens in circulation or decreasing the supply, the stablecoin GUSD issued by Gemini has increased by 129.5% during the last 30 days.
GUSD Sees Supply Balloon by Nearly 130%
There’s been a number of changes within the stablecoin economy as Bitcoin.com News reported events like the demise of Terra’s stablecoin terrausd (UST), which is now referred to as terrausdclassic (USTC). Following the Terra stablecoin depegging event in mid-May, a....
The three largest stablecoins represent a combined capitalization of $60 billion. Research from on-chain analytics provider Glassnode has revealed that the top three stablecoins represent more than 90% of the sector’s entire market cap.Glassnode’s April 13 “Week On-chain” report found that the top three stablecoins — Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) — have seen significant growth over the past six months to represent a combined capitalization of more than $60 billion, equal to 92.75% of the stablecoin market.By contrast, six months ago the combined stablecoin....
According to a report by Glassnode, bitcoin’s declining stablecoin supply ratio (SSR) indicates an increased supply of newly minted coins on exchanges. In turn, this increase in supply means exchanges are currently “highly liquid and ready to buy up assets such as bitcoin.” Stablecoin Supply Growth As explained in the report, the SSR is a ratio of the total value of all bitcoins versus stablecoins. This metric “decreases when (either) the price of BTC is low or when more stablecoins are entering circulation.” However, with BTC prices are already high, this....
The world of cryptocurrency is no stranger to rapid changes and explosive growth. Recently, one of the most talked-about tokens has been Mpeppe (MPEPE), a rising star in the memecoin universe that has captured the attention of both retail and institutional investors. What’s fascinating is that Mpeppe is not only attracting new crypto enthusiasts but also seasoned investors from established tokens like Solana (SOL) and Internet Computer (ICP). With Mpeppe’s potential for a 100x return, Solana (SOL) and Internet Computer (ICP) holders are diving into this opportunity with fervor. The....
Demand for Ethereum-based stablecoins exploded during the third-quarter DeFi bubble, with DAI’s supply growing by more than 600% and USDC expanding 200%. Decentralized finance’s (DeFi) explosive third-quarter brought significant growth to Ethereum (ETH)-compatible stablecoins.According to crypto market data aggregator Messari, the supply of MakerDAO’s DAI stablecoin grew by 623% in Q3 2020, pushing the token’s value above $1 for four consecutive months.Since starting July with a market cap of nearly $130 million, DAI’s supply has expanded to more than $940 million today.DAI is created when....