Cryptocurrency

Stablecoins inflow to Ethereum L2s rise 5% to over $2B

According to DeFillama, the inflow of stablecoins into the Ethereum (ETH) Layer 2 (L2) network has grown 5% over the past seven days to exceed $2 billion. data.

Arbitrum recorded an average of $10 million in inflows per day in February

Arbitrum stablecoin inflow averaged in February Over $10 million every day, as the network saw The total inflow is about $300 million.

Stablecoin inflow Arbitrum
Source: DeFillama data.

Inflows continued in early March, totaling $32.52 million. The network drained him $10.15 million during the same period.

The network’s biggest influx occurred on March 5, recording $16.57 million in inflows in a single day.

According to DeFillama data, USD Coin (USDC) accounts for 67% of all Arbitrum stablecoins, accounting for $968.63 million. Other major stablecoins on the network include Tether’s USDT and DAI, with a cumulative balance of $394.81 million.

The increase in stablecoin inflow also coincided with a period of increased trading activity on Arbitrum. On the L2 network, transaction volume hit a record high of 690,000 in his February. In addition, increased network activity can cause Trading Volume Exceeds Ethereum first time.

Arbitrum, on the other hand, is the second most popular network for decentralized exchanges (DEX).for contextTotal trading volume in the last 24 hours was $207.29 million, outperforming rivals such as Polygon, Binance Smart Chain and Optimism. However, it is well below the $1.03 billion Ethereum.

according to L2 beatwith total arbitrum-locked assets (TVL) of $3.37 billion, up 0.17% over the past 7 days.

Optimistic stablecoin inflow rises 5% in 7 days.

Since early March, Optimism (OP) stablecoin inflows have increased by 4.89% to $669.11 million, according to DeFillama data.

Optimism
Source: DeFillama

A big influx of optimism came on March 3 when it hit around $6.3 million.

The increase in inflows contrasts with February, which recorded nearly $120 million in outflows.

USDC is also Optimism’s dominant stablecoin. Circle-issued stablecoins account for about 55% of all stablecoins on the network, worth $364.56 million. Other top 3 stablecoins include Synthetix protocol sUSD and USDT, worth a combined $145.77 million.

Optimism has a TVL of $1.89 billion, according to L2 Beat data.

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