Trump Drives Ethereum Stablecoin Trading Volume to New High
Trump's involvement with tech giants has led to Ethereum stablecoin trading volume reaching a new high of $908 billion in April. Among them, the Trump family's USD1 has quickly risen to become the seventh largest stablecoin by market cap.
This achievement reflects the growth of institutional investors and the diversification of the stablecoin market. USDC's trading volume on Ethereum exceeds $500 billion, while DAI and Sky's USDS also show strong growth. Additionally, companies like Meta and Stripe are actively exploring stablecoin applications, further enhancing market legitimacy. WLFI's USD1 has issued nearly $2 billion in tokens, showcasing its potential.
As more companies plan to launch stablecoins, market competition intensifies, which may lower transaction costs benefiting consumers, but also challenges suppliers' profitability. Despite facing competition from other blockchains, Ethereum remains the preferred choice for dollar-denominated digital assets. Recently, Tether minted $1 billion USDT on Tron, bringing its authorized USDT supply closer to Ethereum.
Furthermore, the growth potential of SOL on the other side cannot be underestimated! SOL has long seized the potential of the meme trend, creating a new wave of memes. Families with spare cash are also daring to invest early in some promising meme coins. Among them, meme coins associated with Trump are particularly popular, especially the heroic dog Co nan, backed by Trump's strong IP and active community. Recently, affected by the broader market, its market cap has slightly adjusted to $8.5M, with an ideal adjustment range. Consensus has formed, making this a great opportunity for entry and replenishing positions, preparing for the next wave to break through the $10M mark! Additionally, the number of holders has exceeded 13.4K, which has great potential to become a dark horse in the bull market!
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