Stablecoin on-chain volumes saw significant movement on November 4th, with $DAI taking the lead at $22.4 billion—surpassing $USDC’s $9.37 billion and $USDT’s $7.39 billion. This impressive volume suggests a possible rise in DeFi activity or an emerging shift in user preference toward decentralized assets like DAI. In contrast, USDC and USDT held steady, reinforcing their indispensable role in the crypto ecosystem. Smaller stablecoins such as $USDE and $FDUSD lagged behind, with volumes of $160 million and $230 million, respectively. 📊 Stablecoin On-Chain Volume Analysis 📊 On Nov 4th, $DAI led the pack with a massive $22.4B on-chain volume, outpacing $USDC
The post DAI Leads Stablecoin Volumes As DeFi Signals Potential For New Growth Phase appeared first on The Merkle News.
