Stablecoin Supply Breaks Record Amid Rising On-Chain Activity

The recent surge in stablecoin supply and activity has brought new life to the cryptocurrency market.

Data from Dune Analytics shows that the combined stablecoin balance has exceeded $329.6 billion, a new record high. This increase is accompanied by a significant rise in monthly transfer volume, which has surpassed $10 trillion.

This development indicates a resurgence of liquidity within the crypto market, as more funds are being invested and circulated on-chain. Decentralized exchanges (DEXs) have seen a notable surge in activity, accounting for 56% of all stablecoin transactions last month.