Analysis: The supply of stablecoins has reached the highest point since January 2022, and the daily number of transactions has hit a new high.
According to on-chain analyst Peter Schroeder's Artemis data shared on X, cryptocurrency activity has rebounded in the past week, with the following highlights:
1. DeFi trading volume reached a high point in 2023 on August 5, making it the 4th most active day in the DeFi sector over the past 3 years.
2. Bridge transaction volume also reached its highest single-day record since March 2023, with Circle's CCTP dominating 35% of bridge activity.
3. Perpetual contract trading volume reached its highest level since March 2023, making it the third highest trading volume in the past year.
4. The number of stablecoin transfers set a new all-time high on August 5.
5. Stablecoin supply reached its highest level since January 2022, currently at $165.33 billion, with USDT accounting for 69.82% of the total.
