With the entry of President Trump, tech giants, and institutions, stablecoin trading volume on the Ethereum chain reached a historic high of $908 billion in April. USD1, launched by the Trump family's World Liberty Financial (WLFI), quickly surged, becoming the seventh-largest stablecoin by market cap.
The emergence of the $908 billion milestone coincides with a growing number of institutional investors and a series of high-profile developments, which have once again thrust stablecoins into the spotlight.
The world's second-largest dollar stablecoin, USDC, has shown particularly strong growth on Ethereum, with trading volume trending upwards over the past six months, exceeding $500 billion. Other stablecoins that have seen significant trading volume growth include DAI and Sky's USDS, reflecting the diversification of the stablecoin market.
Traditional enterprises continue to accelerate their embrace of stablecoins.
In the week of May 4, Meta announced plans to explore stablecoin integration to reduce transaction costs; Stripe launched a new stablecoin product to enhance its payment infrastructure.
At the same time, the Trump family's WLFI has witnessed its stablecoin USD1 issuing tokens worth nearly $2 billion. Although USD1 is relatively new, its rapid growth has made it the seventh-largest stablecoin by market cap.
Currently, Fortune 100 companies are increasingly exploring stablecoins for cross-border payments and other products, which adds new legitimacy to the industry.
As more companies plan to issue their own stablecoins or adopt existing ones, competition for trading volume may intensify.
This competitive landscape may lead to issuers competing for market share, thereby lowering fees, which could benefit end users, but it may also challenge the profitability of stablecoin providers.
Despite challenges from alternative chains and Layer 2 solutions, the surge in stablecoin trading activity on Ethereum highlights the network's continued dominance as the preferred blockchain for dollar-denominated digital assets.
The use of stablecoins on other blockchains has increased.
According to on-chain tracking agency PeckShieldAlert, the stablecoin issuer Tether has minted another 1 billion USDT stablecoins on Tron, pushing the authorized USDT supply on that network above Ethereum.
As of May 14, Tether's stablecoin transparency page shows that the total authorized USDT on Tron is $73.7 billion, while the total authorized USDT stablecoin on Ethereum is $74.5 billion. If newly added tokens are included in the authorized USDT asset count, Tron’s supply will surpass Ethereum.
If you have been stumbling around in the crypto space without direction! Or if you have been losing money! You can follow me!
With the entry of President Trump, tech giants, and institutions, stablecoin trading volume on the Ethereum chain reached a historic high of $908 billion in April. USD1, launched by the Trump family's World Liberty Financial (WLFI), quickly surged, becoming the seventh-largest stablecoin by market cap.
The emergence of the $908 billion milestone coincides with a growing number of institutional investors and a series of high-profile developments, which have once again thrust stablecoins into the spotlight.
The world's second-largest dollar stablecoin, USDC, has shown particularly strong growth on Ethereum, with trading volume trending upwards over the past six months, exceeding $500 billion. Other stablecoins that have seen significant trading volume growth include DAI and Sky's USDS, reflecting the diversification of the stablecoin market.
Traditional enterprises continue to accelerate their embrace of stablecoins.
In the week of May 4, Meta announced plans to explore stablecoin integration to reduce transaction costs; Stripe launched a new stablecoin product to enhance its payment infrastructure.
At the same time, the Trump family's WLFI has witnessed its stablecoin USD1 issuing tokens worth nearly $2 billion. Although USD1 is relatively new, its rapid growth has made it the seventh-largest stablecoin by market cap.
Currently, Fortune 100 companies are increasingly exploring stablecoins for cross-border payments and other products, which adds new legitimacy to the industry.
As more companies plan to issue their own stablecoins or adopt existing ones, competition for trading volume may intensify.
This competitive landscape may lead to issuers competing for market share, thereby lowering fees, which could benefit end users, but it may also challenge the profitability of stablecoin providers.
Despite challenges from alternative chains and Layer 2 solutions, the surge in stablecoin trading activity on Ethereum highlights the network's continued dominance as the preferred blockchain for dollar-denominated digital assets.
The use of stablecoins on other blockchains has increased.
According to on-chain tracking agency PeckShieldAlert, the stablecoin issuer Tether has minted another 1 billion USDT stablecoins on Tron, pushing the authorized USDT supply on that network above Ethereum.
As of May 14, Tether's stablecoin transparency page shows that the total authorized USDT on Tron is $73.7 billion, while the total authorized USDT stablecoin on Ethereum is $74.5 billion. If newly added tokens are included in the authorized USDT asset count, Tron’s supply will surpass Ethereum.
If you have been stumbling around in the crypto space without direction! Or if you have been losing money! You can follow me!
