From Cointelegraph

April 4, 2025 4:18 pm:

Stablecoins thrive while smart contract platforms struggle

Despite a marketwide downturn, stablecoins are flourishing with nearly $10 billion added to their market cap in March. Even as yields drop, tokenized Treasury Bills support institutional stablecoin yield, surpassing $5 billion in total issuance. Meanwhile, Ethereum and Solana face declining activity and trading volumes.

Solana loses ground to Ethereum

Solana experiences a significant decline in daily fee revenues and DEX volumes, dropping by 66% and 53%, respectively, in March. The platform’s DEX share falls below Ethereum’s and its layer-2 scaling chains after briefly surpassing them in February. This decline is attributed to a slowdown in memecoin trading.

Ethereum’s L2 volumes hold up

Trading volumes on Ethereum’s layer-2 scaling solutions see an 18% decline in March, outperforming Solana’s performance. Despite the drop, Ethereum’s “blob fees” hit record lows during the final week of March. This indicates a slowdown in activity on Ethereum’s network, but it remains relatively stable compared to Solana.

Read more at Cointelegraph: Stablecoins ‘in bull market’; Solana sputters: VanEck