Stablecoins now dominant Ethereum-based medium of exchange as aggregate market cap doubles year-to-date

Quick Take

  • The aggregate Ethereum-based stablecoin market capitalization has increased 95.38% year-to-date to $6.25bn
  • Since the start of 2020, stablecoin weekly transaction volume has consistently outweighed Ether (ETH) transaction volume by 3:1
  • While Huobi USD and Binance USD continue to build market share, unique holder and user metrics suggest adoption solely among large professional entities  
Stablecoins continue to gain significant traction, with the aggregate Ethereum-based stablecoin market capitalization roughly doubling year to date to a total of $6.25bn. 

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