Ethereum holds 49.1% of the stablecoin market, despite recent volatility and market shifts.
TRON and Ethereum dominate the stablecoin market with a combined value of $144.4 billion.
ETH price dropped below $2,500, yet long-term outlook remains optimistic among analysts.
Ethereum remained the top platform for stablecoins even with the fluctuations in the market.
According to CoinGecko, Ethereum holds about $84.6 billion in stablecoins, representing 49.1% of the total stablecoin supply as of September. The smart contract platform plays a crucial role in DeFi, holding nearly half of all stablecoins in the market.
Source: CoinGecko
TRON also has a strong presence, holding 83.9% of the $144.4 billion stablecoin market. TRON holds $59.8 billion, giving it a 34.8% share. However, Ethereum’s market share has slightly decreased.
This decline may be due to the increasing usage of layer 2 solutions and the recent failure of Terra’s UST stablecoin. In fact, Ethereum’s stablecoin supply grew by $17.2 billion this year, but its market share still decreased.
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