Ethereum's grip on DeFi challenged by Tron's stablecoin surge

05/29/2024 22:45

Ethereum leads with 49.87% of the stablecoin market cap, while Tron follows closely with 35.52%, highlighting a shift in DeFi liquidity.

Ethereum’s grip on DeFi challenged by Tron’s stablecoin surge 28 seconds ago · 3 min read

Ethereum's stablecoin dominance faces competition from Tron, which shows negligible bridging activity compared to high interchain movement on BSC and Arbitrum.

3 min read

Updated: May. 29, 2024 at 3:49 pm UTC

Ethereum’s grip on DeFi challenged by Tron’s stablecoin surge

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Stablecoins are indispensable in DeFi, reflecting market liquidity and investment trends. Although Ethereum commands a staggering 61.01% of TVL in DeFi protocols, deeper insights emerge from the distribution of stablecoins. Ethereum controls 49.87% of the stablecoin market cap, followed closely by Tron at 35.52%. These metrics unveil more about the true liquidity landscape, particularly when examining the issuance and bridging of stablecoins. While Ethereum showcases hefty on-chain issuance, one blockchain stands out for its unexpected cross-chain activity...