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✍️📊 @Ripple's RLUSD stablecoin is growing... on @ethereum.
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Four companies & DAOs dominate the revenue meta in the stablecoin issuers market sector: 1. @Tether_to Private 2. @circle $34.76B FDV 3. @ethena_labs $4.19B FDV 4. @SkyEcosystem $2.41B FDV
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🏦⛓️ @circle will onboard more Wall Street investors & analysts to onchain data than @coinbase. Why? Circle's business is conducted ~100% onchain. Investors will have to get comfortable with onchain data to understand how Circle is performing as a business.
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ICYMI: a customizable "market map" is now embedded on the TT landing page. 1. Metric: Active loans 2. Chain: @base 3. View: % change 4. Time period: 90 days Key takeaway: @MorphoLabs is currently the biggest & fastest-growing lending DAO on Base.
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tl;dr: the market is not pricing @circle as an AUM-based business
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Quarterly fees for Celestia were ~$187.6k in Q1 '25 Annual run rate: ~$750.4k
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