Bittime - Ethereum stablecoin monthly volume increased for the third month in a row after several months of somewhat slow activity. However, this data carries an important note that without flash loan activity, stablecoin volumes have remained stable. FDUSD recorded its best month ever, although filtered stablecoin volume was slightly below March levels.
DAI Dominates Stablecoin Volume
SAs previously reported by The Block, DAI is increasingly being used in complex MEV transactions. This often involves flash loans. Most of the DAI was created and returned in a single transaction in April.
Additionally, adding nearly a billion dollars in DAI volume. DAI volume in April reached $636 billion. This constituted the majority of DAI volume in the previous month.
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Increased DAI Supply
Additionally, DAI supply continues to increase, around one billion dollars in tokens since March 7 and reaching a total supply of 5.44 billion, according to The Block data. While other stablecoins also increased in volume during the period, DAI slightly increased its share of total stablecoin supply.
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Potential Challenges for DAI
According to MakerBurn, DAI supply has increased by $220 million since May 1. However, competitors like Ethena's USDe and Ripple's promised stablecoin could complicate DAI supply issues in the future.
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Influence on Maker Prices
The price of the Maker token, which comes from the DAI support organization MakerDAO. It usually falls during April even though DAI volume increases. In early May the price rose slightly.
.How To Buy Ethereum (ETH) With Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with ETH IDR pairing.
To be able to buy ETH tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Ethereum (ETH) on Bittime.
Monitor price chart movements of Ethereum (ETH), Bitcoin (BTC), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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