Stablecoin market cap increases by $100M every single day

The rise of DeFi protocols and the demand for tokens in liquidity pools may be contributing to a huge surge in the supply of stablecoins.

According to an Sept. 3 tweet from Coin Metrics co-founder Nic Carter, the current supply of stablecoins Binance USD (BUSD), Dai (DAI), HUSD, Paxos Standard Token (PAX), USD Coin (USDC), USDK, Tether (USDT), USDT_ETH, and USDT_TRX has been increasing by roughly $100 million daily for almost two months.

Source: Coin Metrics

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