Stablecoin Supply Surpasses $300B, But Where's the Liquidity?

The stablecoin supply has reached $303.1 billion after adding about $2.23 billion in seven days.

USDT, a type of stablecoin linked to the US dollar, controls 60.43% of the market with roughly $183 billion in circulation.

Ethereum-linked stablecoins saw their supply fall by around $80 million during this period.

The expansion of stablecoin supply is expected to boost available dollar-linked liquidity for crypto and DeFi markets, but on-chain data suggests that capital may not be reaching exchange order books or flowing into risk assets.