Blockchain metrics company Glassnode has recently published data indicating that the circulating supply of stablecoins has surged to approximately $211.2 billion since the beginning of this year, representing an increase of $17 billion in less than two months. According to the company, the current rate of growth in the supply amounts to approximately $541 million per day. The specific tokens analyzed in the data include the two major stablecoins, USDT and USDC, which collectively make up 86% of the total stablecoin market capitalization, as well as smaller stablecoins like Ethena’s USDE and Sky Protocol’s DAI. In a separate report by Ark Investment Management, it is revealed that the transaction value of all stablecoins now surpasses that of traditional payment companies such as Visa, Mastercard, and American Express.
