Stable Currency Funds Flowing into Ethereum L2 on the Rise

03/07/2023 23:36 • AI Insights • 131 views

It is reported that DeFillama data shows that the stable currency funds flowing into Ethereum L2 in the past 7 days exceeded US $2 billion, up more than 5%. In terms of Arbitrum, the total inflow of stable currency of the network in February was about US $300 million, with an average daily inflow of more than US $10 million. USDC accounted for 67% of the total value of all stable currencies on the Arbitrum chain with US $96863 million. The total value of Tether and DAI was about US $394.81 million. In addition, the transaction volume of Arbitrum network reached 690000 in February, a record high. In terms of Optimism, since the beginning of March, the inflow of network stable currency has reached US $669.1 million, an increase of 4.89%. USDC accounted for 67% of the total value of all stable currencies on the Optimism chain with US $364.56 million, and the total value of sUSD and USDT was about US $145.77 million.

Data: More than US $2 billion has flowed into Ethereum L2 stable currency in the past 7 days

Analysis based on this information:

The recent data from DeFillama reveals that the stable currency funds flowing into Ethereum L2 have exceeded US $2 billion in the past seven days, marking a notable increase of more than 5%. Two scaling solutions, Arbitrum and Optimism, have received substantial contributions to these inflows.

The Arbitrum network has received stable currency inflows totaling approximately US $300 million in February. The average daily inflow recorded is more than US $10 million, which is significant. Interestingly, the USDC accounted for the bulk of the total value of all stable currencies on the Arbitrum chain with a staggering US $96863 million. On the other hand, Tether and DAI had a total value of about US $394.81 million. Furthermore, the Arbitrum network recorded a transaction volume of 690000 in February, which is the highest ever recorded.

The Optimism chain has also attracted stable currency inflows that have increased by 4.89% to reach US $669.1 million since the beginning of March. USDC also dominated the stable currency contributions, accounting for up to 67% of the total value of all stable currencies on the Optimism chain. The value of sUSD and USDT was about US $145.77 million, indicating that Optimism is gaining acceptance.

The continued growth of stable currency inflows into Ethereum L2 through Arbitrum and Optimism indicates that the scaling solutions have won the confidence of Ethereum participants. The Ethereum L2 networks are serving as a crucial infrastructure for institutional investors seeking to leverage the Ethereum blockchain. This trend also showcases the broader adoption of cryptocurrencies by mainstream investors seeking exposure to stable currencies.

In conclusion, the increased inflows of stable currency into Ethereum L2 through Arbitrum and Optimism in recent months have demonstrated the tangible benefits of these scaling solutions to the development of decentralized finance. This trend indicates sustained growth and adoption of cryptocurrencies by investors and is a critical step in the evolution of the crypto market.

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Stable Currency Funds Flowing into Ethereum L2 on the Rise

Data: More than US $2 billion has flowed into Ethereum L2 stable currency in the past 7 days

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