Report: Currently 75% of stablecoins are settled through the Ethereum network

According to the latest article by Ryan Sean Adams, Bitcoin and Ethereum have not been directly sold in US dollars in the past week, but have been exchanged for a large number of stablecoins. The settlement of stablecoins in settlement is facing a major shift recently. At the beginning of 2019, Bitcoin was the world's largest stablecoin network, and USDT was only settled on Omni. The growth chart of stablecoins in the past 12 months shows that USDT_ETH has a monopoly position relative to Bitcoin's Omni. The report shows that at present, 75% of the stablecoins in the market are settled through the Ethereum network. The logic behind the transformation is multiple. Ethereum allows its stablecoin users to access the DeFi protocol, and this field is quickly becoming a popular hub for lending platforms. There have also been substantial improvements in scalability and UX networking. In addition, because the efficiency and functions of the ETH network are much higher than Bitcoin, some banks have also been considering issuing stablecoins on Ethereum.