Stablecoin Inflows Increase, USDC and DAI Keep Growing
Stablecoins on Ethereum hit a total capitalization of $80B this month, indicating capital inflows to crypto — and specifically Ethereum — aren’t slowing down.
BUSD, DAI, and USCD have fared well recently, increasing their supply by 37%, 23%, and 14% over the past 3 months. Meanwhile, USDT, the largest stablecoin on Ethereum by capitalization, only grew by 10% over the same period.
In terms of market share, USDT is the leader at 42% of the total supply. In second is USDC, which has grown into a sizable 33%. That’s followed by BUSD (16%) and DAI (8%).