Global #stablecoin

On Tuesday, Chainlink Labs and Fireblocks unveiled a new partnership aimed at revolutionizing the issuance and management of stablecoins.

In January, Ethereum’s on-chain data revealed that stablecoin transaction volumes had reached an impressive $652 billion. This number has seen notable fluctuations throughout the year, with a significant peak in April when transaction volumes soared to $1.18 trillion.

​In a strategic move to enhance its role in the global cryptocurrency market, Russia is set to launch new crypto exchanges and explore stablecoin options tied to the Chinese yuan and BRICS currency basket.

PayPal USD (PYUSD) has rapidly ascended in the stablecoin market, achieving the status of the sixth-largest stablecoin within a short span.

Recent on-chain data reveals a significant increase in stablecoin activity following recent market fluctuations. Tether (USDT) and Circle’s USD Coin (USDC) have both experienced substantial growth, reflecting their crucial roles in the cryptocurrency market's recovery and expansion.

Since its expansion to the Solana blockchain on May 29, PayPal USD (PYUSD) has experienced a dramatic 150% increase in its market capitalization, according to DefiLlama data. The stablecoin’s total market value has surged to $684 million, reflecting significant growth and adoption since its launch on Solana.