Analyzing Stable Currency Trading Volume and Supply Adjustments in March

According to reports, according to The Block Pro data, the stable currency on chain trading volume after adjustment in March increased to $823.2 billion, an increase of 47.5%; However, the supply of issued stable currency has slightly shrunk to $125.6 billion, a decrease of approximately 2.3%. Among them, the market share of USD stable currency USDT has increased to 64.1%, while the market share of USDC has decreased significantly, to 24.6%. In addition, after the adjustment in March, the total transaction volume on the Bitcoin and Ethereum chains increased by 48.8% to $255 billion, of which the transaction volume on the Bitcoin chain increased by 48.3% and the transaction volume on the Ethereum chain increased by 62.7%.

After adjusting in March, the trading volume on the stable currency chain reached $823.2 billion, up 47.5%

Stable currency has become an increasingly popular asset in recent years, as it offers a more stable and secure option for traders compared to traditional cryptocurrencies. According to recent reports by The Block Pro data, the trading volume for stable currency on-chain has increased by 47.5% to $823.2 billion after adjustment in March. However, the supply of issued stable currency has slightly shrunk to $125.6 billion, a decrease of approximately 2.3%. This article will analyze these changes in stable currency trading volume and supply adjustments in March in more detail.

What are Stable Currencies?

Before diving into the analysis, it’s important to define what stable currencies actually are. Stable currencies are digital currencies that are pegged to a stable asset, such as the US dollar. This allows traders to avoid the volatility of traditional cryptocurrencies, which are known to fluctuate wildly in value. By creating a stable asset, traders can avoid losses caused by abrupt market swings and have more certainty when making investment decisions.

Increased Trading Volume in March

The data reported by The Block Pro data shows that after adjustment in March, the trading volume for stable currency on-chain has increased by 47.5% to $823.2 billion. This suggests that there is a growing demand for stable currency among traders who are seeking more stable and secure options in the crypto market. Despite the challenges caused by the COVID-19 pandemic, the stability and reliability of stable currency make it an attractive investment option in volatile times.

Supply Adjustments in March

Interestingly, the data also reveals that the supply of issued stable currency has slightly shrunk to $125.6 billion, a decrease of approximately 2.3%. This could be due to several factors, such as a decrease in mining rewards or a decrease in overall demand. Whatever the reason, this trend could potentially indicate a tightening of supply and an increase in demand.

USDT vs. USDC Market Share

Among the stable currencies, the market share of USD stable currency USDT has increased to 64.1%, while the market share of USDC has decreased significantly to 24.6%. This shift in market share could be due to numerous factors, such as the relative stability of the USDT compared to the USDC, or differences in liquidity and adoption rates.

Increased Transaction Volume on Bitcoin and Ethereum Chains

In addition to the stable currency adjustments, the total transaction volume on the Bitcoin and Ethereum chains increased by 48.8% to $255 billion after adjustment in March. This is a positive sign for the crypto market, as it suggests that there is still strong demand for cryptocurrencies despite the ongoing economic turbulence. The transaction volume on the Bitcoin chain increased by 48.3%, while the transaction volume on the Ethereum chain increased by 62.7%.

Conclusion

Overall, the data reported by The Block Pro data shows that stable currency trading volume has increased after adjustment in March, while the supply of issued stable currency has slightly shrunk. This trend could potentially indicate a tightening of supply and an increase in demand for stable currencies. The market share of USD stable currency USDT has increased, while the market share of USDC has decreased. Additionally, there has been an increase in transaction volume on both Bitcoin and Ethereum chains. These trends suggest that despite the ongoing economic turbulence, the crypto market remains resilient and continues to grow.

FAQs

Q: What is stable currency?
A: Stable currency is a digital currency that is pegged to a stable asset, such as the US dollar.
Q: Why is stable currency popular among traders?
A: Stable currency provides a more stable and secure option for traders compared to traditional cryptocurrencies that are known to fluctuate wildly in value.
Q: What is the market share of USDT and USDC?
A: The market share of USD stable currency USDT has increased to 64.1%, while the market share of USDC has decreased significantly to 24.6%.