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Ethereum stablecoin market cap surges to 117.39 billion USD, questions remain

Ethereum’s stablecoins have reached a market cap of 117.39 billion USD, accounting for 54.32% of the total stablecoin market. This milestone signifies a growing dominance in the stablecoin sector, enhancing Ethereum’s liquidity and market influence.

Despite the market cap surge, Ethereum’s total value locked hasn’t increased similarly, raising concerns over liquidity and investor confidence. Taxes on staking by the IRS and USDT compliance issues denote regulatory obstacles, although clarity may aid long-term recovery.

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