In August, the total unfiltered transaction volume on the Ethereum network hit a record $1.46 trillion, with stablecoins playing a key role in this surge.
The transaction volume for stablecoins has doubled since January, starting at $652 billion and peaking at $1.18 trillion in April.
MakerDAO’s DAI led the way in stablecoin transaction volumes, reaching $962.3 billion, driven by increased interest in decentralized finance (DeFi). This growth in DAI usage suggests rising confidence in algorithmic stablecoins. Tether’s USDT and Circle’s USDC followed with transaction volumes of $265.84 billion and $209.98 billion, respectively, maintaining their significant influence in the expansion of the DeFi sector.
Despite DAI’s dominance in unfiltered volumes, USDT and USDC performed better in filtered stablecoin transactions on Ethereum, sparking speculation about potential “wash” trading.
PayPal’s stablecoin, PYUSD, though not in the top five, has shown notable growth, increasing from $500 million to $2.4 billion since its launch.
Fartcoin (FARTCOIN) has gone down by 17.3% in the past 24 hours and currently sits at $1.14. As the token approaches $1, one trader favors a bullish Fartcoin price prediction. DevKhabib, a pseudonymous trader whose X account is followed by nearly 46,000 users, says that he expects a big bounce off the $1 support after […]
Amid current market volatility, blockchain analytics firm Santiment has reported a notable rise in whale activity targeting a select group of altcoins.
Binance has officially announced the launch of PlaysOut (PLAY), a new token debuting on Binance Alpha, with trading scheduled to begin on July 31, 2025, at 08:00 UTC.
The Cboe BZX Exchange has submitted a filing with the U.S. Securities and Exchange Commission (SEC) seeking approval for a new exchange-traded fund (ETF) that would track Injective’s native token (INJ).