Weekly DeFi Index

This week’s indices were all negative with market capitalisation, volume, and volatility indices dropping by -3.13%, -31.49%, and -42.27%, respectively. 

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Chart of the Week

Stablecoins saw US$846 billion in on-chain trading volume in May 2024, despite a 30% drop in monthly trading volume compared to the previous month. The stablecoin market demonstrates robust activity, with stablecoins increasingly recognised for their potential to reduce international remittance fees. Additionally, the total stablecoin market capitalisation reached a two-year high of $161 billion in May 2024, according to data from CCData.

PayPal’s stablecoin PYUSD is emerging as a key player, with a market cap nearing $400 million. PayPal recently announced the addition of PYUSD – currently available on Ethereum – on the Solana blockchain.



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DeFi & L1L2 Weekly – 💪 The stablecoin market showed robust activity with $846 billion on-chain trading volume in May

The stablecoin market showed robust activity in May. Ethena Labs integrated its USDe and sUSDe into the Blast L2. Linea L2 halted block production due to a security incident from the Velocore.

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