Ether Stablecoin Trading Volume Breaks Monthly Record in April

The total number of stablecoin transactions on Ether last month was significantly higher than any previous month, but most of the volume was contributed by a single stablecoin, DAI. As The Block previously reported, DAI is increasingly being used for complex MEV transactions, often involving flash loans, where a large portion of DAI is minted and returned in a single transaction. One of these transactions alone added nearly $1 billion in DAI volume.