Celo Challenges Tron's Leadership in Active Stablecoin Addresses
Summary
Celo, an Ethereum layer 2 ecosystem, is nearing Tron's daily active addresses using stablecoins, with a seven-day average close to 700,000. This rise follows Tether's deployment of USDT on Celo, issuing over $200 million since March. Celo's partnership with Opera launched MiniPay, a mobile-first stablecoin wallet, gaining over 1 million users in Nigeria, Ghana, and Kenya within five months. Vitalik Buterin highlighted Celo's progress, boosting CELO token interest, which saw a 20% price increase. Despite this, Celo's stablecoin transfer volume is significantly lower than Tron's and Ethereum's.
