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10 May 2021

Stablecoins on Ethereum Doubled in Q1 Thanks to DeFi - Decrypt

Stablecoins on Ethereum Doubled in Q1 Thanks to DeFi - Decrypt


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The Q1 DeFi Report by ConsenSys (which provides funding toDecrypt) says that the total supply of stablecoins on Ethereum increased from $19.5 billion on January 1 to $37.4 billion by March 31—nearly doubling in three months.

What’s more, from March 31 of last year to March 31 this year, the supply increased nearly sevenfold: from $5.5 billion to $37.4 billion, according to ConsenSys. .

Most DeFi applications are built on Ethereum, and using stablecoins is one of the key ways to make transactions on them. .

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