The proportion of stablecoin Gas usage on Ethereum dropped to 5%, reaching a three-year low

Glassnode data shows that the share of Ethereum Gas usage by transaction type (especially stablecoins and NFTs) continues to decline.

Specifically, as of June 9, stablecoin Gas usage accounted for approximately 5% of the total Ethereum Gas usage, a three-year low. Among them, USDT accounts for more than 75% of the stablecoin Gas usage on the Ethereum chain, but this demand seems to be constantly migrating to the TRON blockchain, because currently $46 billion of the $82 billion USDT is on TRON. At the same time, NFT gas usage continues to decline, due to the rise of Bitcoin Inscription. Dune data shows that the total number of Ordinals inscriptions minted has reached 11,465,701 pieces. (CryptoSlate)