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Significant Increase in Stable Currency Funds Flowing into Ethereum L2 Networks

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It is reported that DeFillama data shows that the stable currency funds flowing into Ethereum L2 in the past 7 days exceeded US $2 billion, up more than 5%. In…

Significant Increase in Stable Currency Funds Flowing into Ethereum L2 Networks

It is reported that DeFillama data shows that the stable currency funds flowing into Ethereum L2 in the past 7 days exceeded US $2 billion, up more than 5%. In terms of Arbitrum, the total inflow of stable currency of the network in February was about US $300 million, with an average daily inflow of more than US $10 million. USDC accounted for 67% of the total value of all stable currencies on the Arbitrum chain with US $96863 million. The total value of Tether and DAI was about US $394.81 million. In addition, the transaction volume of Arbitrum network reached 690000 in February, a record high. In terms of Optimism, since the beginning of March, the inflow of network stable currency has reached US $669.1 million, an increase of 4.89%. USDC accounted for 67% of the total value of all stable currencies on the Optimism chain with US $364.56 million, and the total value of sUSD and USDT was about US $145.77 million.

Data: More than US $2 billion has flowed into Ethereum L2 stable currency in the past 7 days

Interpretation of the news:


In recent times, the use of stable currency funds has become increasingly popular, especially in the cryptocurrency market. As per the DeFillama data, the stable currency funds flowing into Ethereum L2 networks increased considerably in the past seven days, surpassing the $2 billion mark, a rise of more than 5%.

In the case of Arbitrum, the total inflow of stable currency funds in February was approximately $300 million, averaging more than $10 million daily. Of all the stable currencies on the chain, the USDC accounted for 67% of the total value, amounting to $96863 million. Furthermore, tether and DAI came in at a total value of about $394.81 million. Additionally, the transaction volume on the Arbitrum network reached a new high of 690000 in February.

Optimism’s situation has been no different. Since March began, the inflow of network stable currency has surpassed $669.1 million, a significant increase of 4.89%. The USDC stable coin, again, was dominant as it accounted for 67% of the total value of all stable currencies on the Optimism chain, with $364.56 million. The remaining funds were shared between sUSD and USDT, totalling roughly $145.77 million.

This significant rise in the use of stable currency funds on the Ethereum L2 networks showcases a few notable points. Firstly, it highlights the increased interest in cryptocurrency as people seek safe and reliable investment opportunities. Secondly, it signifies the growing adoption of Ethereum’s L2 networks, which provide faster transaction speeds and lower gas fees, making them more attractive to users.

Furthermore, this increased usage of stable currency funds could lead to further developments in decentralized finance and other blockchain industries. It could also provide a stepping stone towards mainstream adoption of cryptocurrency as more people become exposed to the benefits of using stable currencies in their everyday transactions.

In conclusion, this surge in stable currency funds flowing into Ethereum L2 networks is a positive development for the cryptocurrency industry, and it will be interesting to see how this trend evolves in the coming months.

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