Report: USDT market value exceeds $100 billion for the first time in Q1 2024

Odaily Odaily reported that according to the Q1 on-chain report of QuickNode and Artemis, the market value of USDT exceeded US$100 billion for the first time, and the number of transactions processed in the first quarter was more than 10 times that of USDC; stablecoins still ranked first in address activity, and DeFi surpassed stablecoins in terms of the number of transactions; DeFi revenue generation protocol TVL increased from US$26.5 billion in the third quarter of 2023 to US$59.7 billion in the first quarter of 2024; the number of Web3 game transactions increased by 370% year-on-year, making it the category with the highest year-on-year growth in the Web3 industry; user activity in decentralized social networks increased by 425% in the first quarter; SolanaNFT activity surged, and Tensor active addresses surpassed OpenSea; the total investment in Web3 increased by 55% compared with the fourth quarter of 2023, of which seed round investment increased by 53% month-on-month.