USDG market cap grows to $3.5 billion in one year, with $1.95 billion on OKX X Layer

Odaily News - On-chain analyst Ember posted on X platform stating that USDG's market cap has grown from $300 million to $3.5 billion within a year, with $1.95 billion of that held on OKX's X Layer chain. USDG is not a stablecoin widely known to the general public, with relatively limited promotion and exposure. X Layer primarily supports USDG through real use cases such as stablecoin yield generation, Boost, and payments, making it the sixth-largest stablecoin by scale. USDG's growth over the past year has been consistent and steady, not artificially inflated in the short term through large-scale subsidies. Ember noted that this reflects the high user base and activity levels of OKX Wallet. Even amid the current subdued market conditions, X Layer has achieved through its relevant modules what other stablecoins could only accomplish with substantial capital investment.