Ethereum stablecoin transaction volume breaks monthly record in April

The total transaction volume of stablecoins on Ethereum last month was significantly higher than any previous month, but most of the trading volume was contributed by a single stablecoin, DAI. As previously reported by The Block, DAI is increasingly being used for complex MEV transactions, usually involving flash loans, with a large portion of DAI being minted and returned in a single transaction. Just one of these transactions increased DAI trading volume by nearly $1 billion.

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