According to DefiLlama data, the total market cap of stablecoins has achieved a significant milestone, surpassing $280 billion. This article examines the reasons behind this growth, along with recent actions taken by companies in the cryptocurrency sector.
Market Cap of Stablecoins
On August 28, DefiLlama data reported that the total market cap of stablecoins reached $280 billion, marking a new all-time high with a 1.07% increase over the past 7 days. USDT leads with a 59.75% market share, followed by USDC at 24.6%. Over the last month, Tether and Circle minted $8.75 billion in new stablecoins, reflecting rising demand and robust on-chain activity.
LQWD's Investment in the Lightning Network
On August 28, Canadian public company LQWD allocated 19.75 BTC from its treasury to the Lightning Network. Reports indicate that these Bitcoins earned up to a 24% annualized yield through routing fees. This demonstrates growing confidence in Bitcoin's Layer 2 as a yield-bearing infrastructure.
Ethereum's Share in Institutional Reserves
On August 28, data from strategicethreserve showed that Ethereum reserve entities and spot ETFs now hold 9.2% of total ETH supply. Around 70 reserve entities hold 3.6% (about $19.96 billion), while spot ETFs control 5.6% (about $30.99 billion). These figures reflect sustained institutional accumulation.
The increasing interest in stablecoins, the Lightning Network, and institutional reserves for Ethereum highlights a progressive movement in the cryptocurrency space, with rising volumes and investments potentially favoring the resilience of these assets in the future.
