In a recent turn of events, the cryptocurrency world has been introduced to two stablecoins anchored to the U.S. dollar — Aave’s gho (GHO) and First Digital’s stablecoin FDUSD. These dollar-tied tokens have rapidly gained momentum, witnessing substantial growth in market capitalization soon after their debut.
A Look at Aave’s GHO and First Digital’s FDUSD Growth
In mid-July, the decentralized finance (defi) lending protocol Aave approved a governance proposal and unveiled the platform’s gho (GHO) stablecoin. On July 17, 2023, there were 2,510,269 GHO tokens in circulation, and now there are more than 11.25 million GHO. This implies that GHO’s supply expanded by over 348% within the last 16 days. Currently, the most popular trading platforms for exchanging GHO are Uniswap v3 and Balancer v2. GHO has roughly 357 holders and has recorded a total of 3,479 transactions since its inception.
The 24-hour trading volume of GHO has hovered around $1.52 million, and Balancer’s Vau
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