Stablecoin adoption on eToroX for FX Trading

Most stablecoins were launched with the intention to function as global payment and settlement layers. However, to date, most stablecoin usage has occurred as part of cryptocurrency trading. Especially Tether, the largest stablecoin by far, was able to grow its dominance in this regard.

Combined with the utilization in cryptocurrency trading, increased usage in lending and yield farming protocols has led to an overall stablecoin supply increase of about 370% year-to-date.