MegaETH stablecoin USDm supply collapses over 95% from May peak to $18M

The MegaETH stablecoin USDm saw its supply fall over 95% from a May peak of $600 million to approximately $18 million, according to Castle Labs. The decline is attributed to low network usage, with reserves managed via BlackRock's BUILD fund and yield directed to MEGA token buybacks and burns.

Detected & updated continuously · Source: Nebula