Summary
- It reported that Q3 stablecoin net inflows were $45.6 billion, a 324% increase compared to Q2.
- It said that USDT ($19.6 billion) and USDC ($12.3 billion) led the inflows.
- By network, Ethereum dominated with $171 billion issued, and total market capitalization reached $290 billion over the past 30 days.
The stablecoin market expanded significantly in Q3. In particular, Tether (USDT) and USDC led the inflows.
On the 29th (local time), Cointelegraph reported that net inflows of stablecoins in the virtual assets (cryptocurrencies) market for Q3 totaled $45.6 billion. This is a 324% increase compared to Q2's $10.8 billion. USDT ranked first with net inflows of $19.6 billion, followed by USDC with $12.3 billion. USDe attracted $9.0 billion, leaping to third place.
By network, Ethereum (ETH) was dominant. During the same period, $171 billion worth of stablecoins were issued on Ethereum. Tron (TRX) followed with $76 billion. The combined scale of Solana (SOL), Arbitrum (ARB), and Binance Chain (BNB) was $29.7 billion.
Meanwhile, the total market capitalization of stablecoins reached $290 billion over the past 30 days.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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