Ethereum stablecoin weekly active users exceed 750,000, setting a new record

Odaily Planet News reports that the number of weekly active independent users of Ethereum-based stablecoins has exceeded 750,000, reaching a historic high. Among them, USDT and USDC still dominate, with circulating volumes of $73 billion and $41 billion on Ethereum, respectively, accounting for approximately 85% of the current stablecoin total market value. Market analysis indicates that stablecoin usage is shifting from speculative demand to practical applications such as payment and settlement. As traditional financial institutions accelerate their layout, stablecoins are gradually becoming an important infrastructure for digital commerce. The current market landscape is dominated by leading stablecoins on one hand, while still maintaining a potential market space of nearly $20 billion for new projects to compete. Industry professionals believe that in the future, stablecoin issuers will compete in areas such as fee optimization and revenue mechanisms, thereby driving product innovation and lowering user barriers. This trend also reflects the accelerating popularization of digital dollars and crypto financial services. (The Block)