David Alexander II
@megafund
Fiat-backed stablecoins have now seen 20 straight months of growth, dating back to September 2023. In May, total supply reached yet another record high and surpassed $227B, up 16% ($31B) YTD. Perhaps just as notable, over $757B was settled onchain in May, an 85% increase year-over-year. Interestingly, while 51% of the total supply is deployed on Ethereum, Tron continues to maintain a significant marketshare, now standing at 34%, followed by Solana (5%) and BSC (3%).
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