Stablecoins inflow to Ethereum L2s rise 5% to over $2B

Stablecoin inflow into Ethereum (ETH) furniture 2 (L2) networks accrued 5% successful the past 7 days to implicit $2 billion, according to DeFillama data.

Arbitrum averaged a $10M inflow per time successful February

In February, Arbitrum’s stablecoin inflow averaged over $10 cardinal regular arsenic the web saw a total influx of astir $300 million.

Source: DeFillama data.

The inflows continued during the aboriginal days of March arsenic it recorded a cumulative sum of $32.52 million. The web saw an outflow of $10.15 cardinal during the aforesaid period.

The network’s important inflow occurred connected Mar. 5 erstwhile it recorded an inflow of $16.57 cardinal successful 1 day.

DeFillama information showed that USD Coin (USDC) accounts for 67% of each stablecoins connected Arbitrum with  $968.63 million. Other ascendant stablecoins connected the web see Tether’s USDT and DAI, with a cumulative equilibrium of $394.81 million.

The accrued stablecoin inflow besides coincided with a  play erstwhile transaction enactment connected Arbitrum increased. The L2 web saw its transaction measurement scope a caller all-time precocious of 690,000 successful Feb. Besides that, the accrued web enactment saw its transaction measurement surpass Ethereum for the archetypal time.

Meanwhile, Arbitrum is the 2nd astir fashionable web for decentralized exchanges (DEX). For context, its full measurement successful the past 24 hours was $207.29 million, up of rivals similar Polygon, Binance Smart Chain, and Optimism. However, it is miles beneath Ethereum, which is $1.03 billion.

According to L2Beat, the full worth of assets (TVL) locked connected Arbitrum is $3.37 billion, rising 0.17% successful the past 7 days.

Optimism stablecoin inflow rises 5% successful 7 days.

Since the opening of March, Optimism’s (OP) stablecoin inflow accrued 4.89% to $669.11 million, according to DeFillama data.

Source: DeFillama

Optimism’s important inflow occurred connected Mar. 3 erstwhile it recorded astir $6.3 million.

The accrued inflow is successful opposition to February erstwhile it recorded an outflow of astir $120 million.

USDC is besides the ascendant stablecoin connected Optimism. The Circle-issued stablecoin accounts for astir 55% of the stablecoins connected the network, with $364.56 million. The different stablecoins successful the apical 3 see Synthetix protocol’s sUSD and USDT, with a combined worth of $145.77 million.

Optimism’s TVL stands astatine $1.89 billion, according to L2 beats data.

The station Stablecoins inflow to Ethereum L2s emergence 5% to implicit $2B appeared archetypal connected CryptoSlate.