Stablecoins see drastic drop in Ethereum trading amid memecoin frenzy

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On-chain stablecoin trading appears to be suffering from higher fees on Ethereum, with volume set for lowest month since Dec. 2020.

-- seems to be disrupting activity elsewhere, with the volume of Ethereum on-chain stablecoin trading this month on track to be the lowest since Dec. 2020.

Nearly $69 billion of Tether's USDT has changed so far this month, after seeing volume last month of $110.6 billion.

 

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