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Global Dollar's USDG Passes $3B In Market Cap
Global Dollar's stablecoin USDG by Paxos grows to a $3.2B market cap over a week as stablecoin volumes continue to advance worldwide.
USDG stablecoin grows market cap to $3.2B (Henning K. / Pexels)
USDG stablecoin has passed the $3B mark this week.
The stablecoin issued by Paxos and a core tenet of the Global Dollar network has added around 700M+ in supply over the last 5 days per DefiLlama. USDG stablecoin occupies a $3.2B market cap across 5 networks including Ethereum, Solana, X Layer, Ink and Hyperliquid.
In the second week of May there was a pretty big change as USDG supply spiked from around 2.5B.
Particularly, the stablecoin saw more issuance and volumes occur on Solana (84%) than the other networks, jumping to 3.4B around the 12th May before slightly coming down at the end of the week.
Framing itself as the white-label enterprise stablecoin, more global partners are expected to be joining Global Dollar to get a share of the stablecoin economics for their specific brand.
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