MegaETH's USDm stablecoin supply collapsed 95% from $600M peak to $18M as network activity declined.
DeFi & Yields ·
MegaETH's USDm stablecoin supply contracted over 95% from a $600M peak in May to $18M as network usage declined. The collapse in the native stablecoin reflects diminishing activity on the Ethereum Layer 2, which is designed to process over 100,000 transactions per second with sub-10-millisecond blocks.