Stablecoins have been gathering a lot of steam and settling massive value in recent months. Moreover, on Thursday, Coin Metrics’ executive Nic Carter mentioned on Twitter that “stablecoins have been adding $100 [million per day] since mid-July. While a number of dollar-pegged stablecoins have seen demand, the longstanding tether is still capturing most of the economic activity.
There’s been a lot of changes in the crypto ecosystem with the recent rush toward decentralized finance (defi) applications, but the stablecoin economy has shined just as brightly.
For instance, the overall market valuation of all stablecoins on March 31, 2020 was $5.4 billion and it increased 211% with the stablecoin market cap hovering at $16.8 billion today. Coin Metrics’ executive Nic Carter’s recent tweet shows how massively the stablecoin economy has grown.
“Everyone got so excited about defi no one pointed out that stablecoins have been adding $100 [million per day] since mid-July,” Carter said, sharing an aggregate stablecoin chart from Coin…