Bernstein: The circulation of stablecoins has returned to an all-time high

ChainCatcher news, according to The Block, analysts at research and brokerage firm Bernstein have stated that blockchain-based stablecoins pegged to fiat currencies like the dollar are becoming "systemically important," with their issuers now being among the largest holders of U.S. Treasury bonds alongside sovereign nations.

After peaking in April 2022, the circulating supply of stablecoins has now returned to approximately $180 billion, a historical high.