Ethereum stablecoin weekly active users exceed 750,000, setting a new record

Odaily News The number of weekly active independent users of Ethereum-based stablecoins has exceeded 750,000, setting a record high. Among them, USDT and USDC still dominate, with circulation on Ethereum of US$73 billion and US$41 billion respectively, accounting for about 85% of the current total market value of stablecoins.
Market analysis points out that the use of stablecoins is shifting from speculative demand to payment, settlement and other practical applications. As traditional financial institutions accelerate their layout, stablecoins are gradually becoming an important infrastructure for digital business. On the one hand, the current market structure is dominated by the leading stablecoins, and on the other hand, there is still a potential market space of nearly $20 billion for new projects to compete.
Industry insiders believe that in the future, stablecoin issuers will compete in terms of fee optimization, profit mechanism, etc., thereby promoting product innovation and lowering the threshold for user use. This trend also reflects the accelerated popularization of digital dollars and encrypted financial services. (The Block)