Monthly USD-pegged stablecoin volumes in April fell just short of beating the previous month despite First Digital USD FDUSD/USD having its best month on record. FDUSD volumes surpassed $18 billion, according to The Block Dashboard, more than doubling March's activity. "First Digital USD has been getting a boost since it became the prominent stablecoin on Binance" said The Block Research Analyst Rebecca Stevens. "Although this has been the case for a while, it's still helpful for its adoption." Meanwhile, the world's largest USD stablecoin in terms of supply, Tether's USDT USDT/USD, saw volume slip to $205 billion from $243 billion in March. Cumulatively, April volumes came in at $546 billion, down from March's $587 billion, which was the highest monthly level in exactly one year.
Read the full story at The Block.
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