The cryptocurrency market is showing an overall upward trend on April 26. Six of the top 10 cryptocurrencies by market cap surged, and four are lighting red indicating a fall. Bitcoin (BTC) aims to touch the $8,000 mark.
Stablecoins now dominant Ethereum-based medium of exchange as aggregate market cap doubles year-to-date
- The aggregate Ethereum-based stablecoin market capitalization has increased 95.38% year-to-date to $6.25bn
- Since the start of 2020, stablecoin weekly transaction volume has consistently outweighed Ether (ETH) transaction volume by 3:1
- While Huobi USD and Binance USD continue to build market share, unique holder and user metrics suggest adoption solely among large professional entities
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