In this issue of Coin Metrics’ State of the Network, we’re excited to release the first installment of our “Sector Analysis” series, starting with Stablecoins.
With the widening breadth and complexity of the crypto ecosystem, we aim to provide data-driven overviews of key verticals shaping the market, from on-chain infrastructure like Layer-1s to applications like stablecoins. Through these reports, we will understand the relative size and composition of these sectors, and contextualize their evolution through fundamental metrics capturing their usage, adoption and economic significance.
The report provides a comprehensive breakdown of:
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Key metrics outlining stablecoin growth and adoption.
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The different types of stablecoins, from fiat-backed to crypto-collateralized and interest-bearing models.
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Major stablecoin issuers across categories, like Tether, Circle, Ethena and Sky, and the reserve composition of their respective stablecoins.
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Blockchains competing for stablecoin dominance and the patterns of stablecoin usage across networks like Ethereum, Solana and Base.
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