Total value of stablecoins backed by fiat currency has reached $141 billion, a four-fold increase from last year

2022/03/06 05:38

According to the latest report released by Bloomberg Intelligence, the total amount of stablecoins backed by fiat currency currently in circulation has reached $141 billion, a fourfold increase from 2021. The main drivers of this growth are people’s desire to seek higher yield returns in DeFi and to seek risk hedging in bear markets, which in turn has pushed stablecoins to play the role of DeFi gold.
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