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Ethereum (ETH) A new rally has come while winking at the new record!
The largest altcoin Ethereum (ETH), has shown tremendous performance, rising from the level of 1,800 dollars to 2,600 dollars in recent weeks.
Apart from price performance, another record has come from ETH.
The on-chain stablecoin volume of Ethereum reached an all-time high of 908 billion dollars in April.
This record shows that the application of Ethereum in the financial sector is becoming increasingly popular.
This growth in Ethereum was led by USD Coin (USDC), and in the last six months, the trading volume exceeded 500 billion dollars.
Other stablecoins like DAI and USDS also experienced significant volatility, indicating that the stablecoin market shows a diversified development trend.
This growth in Ethereum has also been noted to be influenced by the fact that corporate giants like Meta and Stripe are currently researching or launching stablecoin-based payment solutions.
According to experts, the increase in stablecoin activity on Ethereum highlights the continued dominance of the ETH network as the preferred blockchain for digital assets in dollars, despite the competitive challenges posed by alternative chains and Layer 2 solutions.
As other chains see an increase in stablecoin usage, Ethereum continues to be the largest network preferred for stablecoin transactions.