Understanding the Growth and Decline of Stable Currency Supply and Chain Trading Volume in March

According to reports, according to The Block Pro data, the stable currency on chain trading volume after adjustment in March increased to $823.2 billion, an increase of 47.5%; However, the supply of issued stable currency has slightly shrunk to $125.6 billion, a decrease of approximately 2.3%. Among them, the market share of USD stable currency USDT has increased to 64.1%, while the market share of USDC has decreased significantly, to 24.6%. In addition, after the adjustment in March, the total transaction volume on the Bitcoin and Ethereum chains increased by 48.8% to $255 billion, of which the transaction volume on the Bitcoin chain increased by 48.3% and the transaction volume on the Ethereum chain increased by 62.7%.

After adjusting in March, the trading volume on the stable currency chain reached $823.2 billion, up 47.5%

Introduction

Recently, a report published by The Block Pro data has revealed some interesting insights into the stable currency market. According to the report, after adjustment in March, the stable currency on chain trading volume increased significantly, while the supply of issued stable currency saw a slight decline. The report suggests that this shift in the market is largely due to an increase in the market share of USD stable currency USDT and a significant decline in the market share of USDC. In addition, the report reveals that there has been a substantial increase in the total transaction volume on the Bitcoin and Ethereum chains.

Understanding the Data

The report reveals that the stable currency on chain trading volume after adjustment in March increased to $823.2 billion, which is a significant increase of 47.5%. However, the supply of issued stable currency has slightly shrunk to $125.6 billion, showing a decrease of approximately 2.3%. This data suggests that while stable currency on chain trading volume is increasing, there is a slight decrease in the supply of issued stable currency. This phenomenon is indicative of the demand for these types of currencies in the market.

Market Share of Stable Currencies

The report also reveals that among the stable currencies, the market share of USD stable currency USDT has significantly increased to 64.1%. This is a significant increase that underscores the growing demand for this type of currency in the market. In contrast, the market share of USDC has decreased significantly to 24.6%. This sudden decline may be indicative of the diversification of stable currencies available in the market.

Total Transaction Volume on Chain

After adjustment in March, the total transaction volume on the Bitcoin and Ethereum chains increased by 48.8% to $255 billion. This is a significant increase that may be indicative of growing demand for these currencies on the market. Of this transaction volume, the transaction volume on the Bitcoin chain increased by 48.3%, while the transaction volume on the Ethereum chain increased by 62.7%. This data is important in understanding the trends in the market, especially as it relates to digital currencies.

Conclusion

The data in the report reveals some interesting trends in the stable currency market. The evidence suggests that the demand for these types of currencies is increasingly growing, especially among USD stable currencies. In addition, the total transaction volume on the Bitcoin and Ethereum chains has significantly increased, showing that digital currencies are gaining momentum in the market.

FAQs

Q: What is stable currency?
A: Stable currency is a type of digital currency that is backed by an underlying asset, such as a fiat currency like the US dollar or a commodity like gold.
Q: What is the difference between USDT and USDC?
A: USDT is a USD stable currency, while USDC is a USD stable coin. The main difference is that USDT is backed by reserves held in offshore accounts, while USDC is backed by reserves held in US banks.
Q: What are the benefits of stable currency?
A: Stable currency provides an alternative to traditional currencies that is not subject to inflation or other value fluctuations. This can be useful for individuals and businesses that need to make cross-border payments or transactions.