Stablecoin Flows Shift to New Chains in Q1, Driven by Growth Opportunities

In the first quarter of 2023, stablecoins experienced a significant shift in their distribution. Stablecoin supply saw growth on various chains as users sought new opportunities for profit. While Ethereum and TRON continued their lead, smaller niche chains witnessed explosive growth, attracting stablecoins seeking to maximize earning potential. This trend is driven by the expansion of DeFi protocols and the desire for more secure, regulated assets like USDC and USDT.