Aggregate stablecoin supply crossed $238B this week, a fresh all-time high driven by accelerating issuance from Circle and Tether across Ethereum, Solana and Base.
Onchain settlement volumes followed: weekly settled value reached $612B, with stablecoin-denominated DEX trading now representing 41% of total spot activity tracked by Melega's data engine.
Institutional desks cite cleaner regulatory orientation in the EU under MiCA and improved fiat on/off ramps as the structural drivers behind the supply expansion.
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