.jpg){kind=avatar}
In Q2 2019 the combined transaction volume of stablecoins Tether, Dai, USD Coin, Paxos, and True USD surpassed the transaction volume of popular payments app Venmo. Portfolio company TradeBlock provided insights used in the report!
With the market being driven by the price of Bitcoin, there are various speculations of the BTC market being manipulated by whales and others. As the users’ main focus lies with major cryptos, stablecoins are taking a lead in the competition with the payments app, Venmo in terms of transaction volumes. According to the data derived by TradeBlock, a provider of institutional trading tools for digital currencies, it was found that in the recent quarter the ERC20-based stablecoins’ transaction volumes surpassed Venmo, a mobile payment service.
unknownx500
