USDT and USDC Stablecoins on Ethereum surge by $1.3B in the past 7 days
The post USDT and USDC Stablecoins on Ethereum surge by $1.3B in the past 7 days appeared on BitcoinEthereumNews.com.
On-chain data shows that USDT and USDC stablecoins on Ethereum increased by $1.3 billion. Lookonchain analytics firm also noted that USDT and USDC stablecoins on Hyperliquid decreased by $77 million. VISA on-chain analytics acknowledged that global businesses are embracing stablecoin payments at a growing rate. The analytics firm reported that the total transaction volume using stablecoins had exceeded $240 trillion in the past 30 days. The firm also projects that the stablecoin market cap might reach $400 billion in 2025. Ethereum leads stablecoins growth by $1.3B increase In the past 7 days, stablecoins(USDT&USDC) on #Ethereum increased by $1.3B, and stablecoins(USDT&USDC) on #Hyperliquid decreased by $77M.https://t.co/UanS3p1iYq pic.twitter.com/wZAK7STm3M — Lookonchain (@lookonchain) March 10, 2025 Lookonchain has revealed that Ethereum is currently leading in stablecoin growth with a $1.3 billion increase. The firm also noted that Hyperliquid experienced an outflow of $77M within the last 7 days. Data from DefiLlama showed that the combined market capitalization of the five biggest stablecoins surpassed $225 billion in total market cap on March 9. The surge in stablecoin market cap happened after Treasury Secretary Scott Bessent pledged on Friday to use the digital assets to help maintain the greenback as the world’s reserve currency. The data also indicated that stablecoins saw a jump from under $140 billion at the end of 2023 and another jump of over $25 billion following Donald Trump’s President-elect win in November. Glassnode data showed that the stablecoin market cap has grown by $40 billion since President Donald Trump won the U.S. election. The firm also noted that stablecoins have surged despite both cryptocurrencies and U.S. equities struggling in recent weeks. Tether’s USDT has maintained a market cap of around $140 billion since December, while USDC is nearing $60 billion, an increase of $25 billion since the election. Bessent iterated at the…
Filed under: News - @ March 10, 2025 5:17 pm