Data: Total market cap of stablecoins on Robinhood Chain surpasses $200 million

Odaily Planet Daily News: Tom Wan, Head of Data at Entropy Advisors and former analyst at 21.co, posted on X platform that the total market cap of stablecoins on the Robinhood Chain has exceeded $200 million. He stated that the key factor driving this growth is Ethena. Data shows that Ethena currently holds $50 million worth of USDG on the Robinhood Chain, along with another $50 million in USDG within the Ethena × Steakhouse USDG vault. The total assets under management are close to $100 million, accounting for approximately 50% of the total USDG supply on the Robinhood Chain.