NewsColony

NewsColony Stablecoin On-Chain Activity Grows 800% in a Year The on-chain activity for stablecoins has increased 800% in the last 12 months according to market intelligence firm TokenAnalyst. This growth is not surprising considering the overall growth of the stablecoin niche. The combined market cap for all stablecoins ranks third in size behind Bitcoin ( BTC ) and Ether ( ETH ) and ahead of XRP ( XRP ).  Over the past year, $290 billion of stablecoins were moved on-chain — in March alone $50.9 billion in value was transferred versus $6.2 billion in April 2019. Source:  TokenAnalyst Dai is most DeFi Despite the growth of the DeFi industry, more than half of the on-chain activity involves centralized exchanges. In fact, exchange-related activity outranks DeFi five to one. Source:  TokenAnalyst Of the three stablecoins analyzed Tether ( USDT ), USDC ( USDC ) and Dai ( Dai ), the latter is by far the most “decentralized” with 88% of its on-chain activity qu...