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Stablecoin influx into Ethereum (ETH) layer 2 (L2) networks elevated 5% within the final seven days to over $2 billion, in keeping with DeFillama knowledge.
Arbitrum averaged a $10M influx per day in February
In February, Arbitrum’s stablecoin influx averaged over $10 million each day because the community noticed a whole inflow of round $300 million.
The inflows continued through the early days of March because it recorded a cumulative sum of $32.52 million. The community noticed an outflow of $10.15 million throughout the identical interval.
The community’s vital influx occurred on Mar. 5 when it recorded an influx of $16.57 million in sooner or later.
DeFillama knowledge confirmed that USD Coin (USDC) accounts for 67% of all stablecoins on Arbitrum with $968.63 million. Different dominant stablecoins on the community embody Tether’s USDT and DAI, with a cumulative stability of $394.81 million.
The elevated stablecoin influx additionally coincided with a interval when transaction exercise on Arbitrum elevated. The L2 community noticed its transaction quantity attain a brand new all-time excessive of 690,000 in Feb. Apart from that, the elevated community exercise noticed its transaction quantity surpass Ethereum for the primary time.
In the meantime, Arbitrum is the second hottest community for decentralized exchanges (DEX). For context, its whole quantity within the final 24 hours was $207.29 million, forward of rivals like Polygon, Binance Sensible Chain, and Optimism. Nonetheless, it’s miles beneath Ethereum, which is $1.03 billion.
In line with L2Beat, the overall worth of belongings (TVL) locked on Arbitrum is $3.37 billion, rising 0.17% within the final seven days.
Optimism stablecoin influx rises 5% in seven days.
Because the starting of March, Optimism’s (OP) stablecoin influx elevated 4.89% to $669.11 million, in keeping with DeFillama knowledge.
Optimism’s vital influx occurred on Mar. 3 when it recorded round $6.3 million.
The elevated influx is in distinction to February when it recorded an outflow of almost $120 million.
USDC can be the dominant stablecoin on Optimism. The Circle-issued stablecoin accounts for roughly 55% of the stablecoins on the community, with $364.56 million. The opposite stablecoins within the high three embody Synthetix protocol’s sUSD and USDT, with a mixed worth of $145.77 million.
Optimism’s TVL stands at $1.89 billion, in keeping with L2 beats knowledge.