According to ME News, on April 17th (UTC+8), data from CoinFoundry showed:
Market capitalization distribution across blockchains
- Ethereum: $169.27 billion
- TRON: $85.55 billion
- Solana: $15.77 billion
- BNB Chain: $12.74 billion
- Arbitrum: $7.3 billion
- Base: $4.54 billion
- Polygon: $3.53 billion
- Avalanche: $1.37 billion
- Aptos: $1.08 billion
- Stellar: $300 million
Market Dynamics:
- The White House is accelerating the passage of the crypto market structure bill, possibly related to the midterm election window.
- The US FinCEN/O FAC and FDIC have proposed a framework for stablecoin issuer AML/CFT compliance and sanctions.
- Tether led a $148 million bailout for Drift and facilitated its switch from USDC to USDT settlement.
- Hong Kong's stablecoin initiative continues to advance + Circle program supports South Korean institutions in issuing stablecoins.
Summarize:
The stablecoin market as a whole has shown steady growth and reached a new historical high, without any major de-pegging events or drastic fluctuations. It has demonstrated a strong trend of being driven by regional policies and having transparent underlying data. Compared to simple changes in total market capitalization, the flow of funds on the blockchain and its penetration into compliant markets in the Asia-Pacific region have become the key points of interest during this period. (Source: ME)
