The data shows that the total circulation of stable coins in August was slightly reduced, and the weight of supply and demand of USDT was biased towards Ethereum Network.

According to stable currency special page data: as of August 31, the total circulation of USDT was US$4.079 billion, a decrease of US$36.23 million from the previous month, of which the total circulation of OMNI-USDT was US$2.417 billion, ERC20- The total USDT circulation is $1.55 billion. However, in the last three weeks, the daily trading volume and daily trading volume of the ERC20-USDT exceeded the OMNI-USDT, and the supply and demand focus of the USDT market began to shift from the OMNI (bitcoin) network to the ERC20 (Ethereum) network. The total issuance of emerging stable currencies is US$977 million, of which USDC has a total circulation of US$453 million, accounting for 46.4%, and continues to be the first; PAX's total issuance is US$200 million, accounting for 20.5%. The second place is TUSD, with a total circulation of 199 million US dollars, accounting for 20.4%; the remaining stable currencies DAI, GUSD, EURS, nUSD, USDx, EOSDT, etc. accounted for 12.7%. The USDx circulation was $2.36 million and was first added to the stable currency list. Overall, the total circulation of emerging stable currencies was down $30.75 million from the previous month, while the overall market share of USDT was fine-tuned from 80.3% in July to 80.7%.