The emergence of a prominent contributor Ethereum In April, the stablecoin market volume broke its previous monthly record. The network volume for last month increased significantly over previous months.
Ethereum’s monthly stablecoin volumes reached an impressive $1.12 billion in April. DAI’s participation in MEV has been a major contributor to the surge of volume that Ethereum has experienced.
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Ethereum’s Stablecoin volume of $1.2 billion in April sets a new record
Stablecoins, a market that is growing rapidly in digital assets, have shown great potential. These cryptocurrencies, which are typically backed up by fiat currency like the US Dollar, do indeed have real-world assets. The industry’s prevalence is undeniable.
Ethereum’s monthly stablecoin volumes broke the record for April. According to data from The BlockThe flash lending activity is what pushed the record figure.
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The data shows DAI’s participation has played a major role in the surge of volume in Ethereum. A single transaction has added almost a billion dollars to the volume of Ethereum. own.
DAI accounted for $636 Billion in Volume for April. The DAI stablecoin was responsible for 636 billion dollars in volume for the month of April.
The figures should continue to rise in the coming months. The DAI was impressive but the upcoming stablecoins could be key to the growth trajectory.
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Source: watcher.guru