Ethereum Layer 2 Celo challenges Tron’s position as the blockchain with the most daily active addresses using stablecoins. The seven-day moving average of the measure on Celo has risen to nearly 700,000, nearly matching Tron’s tally, according to data tracked by Artemis. The surge follows Tether’s decision to deploy its dollar-pegged stablecoin, USDT, on Celo in March. Since then, more than $200 million worth of USDT has been issued on Celo. On Wednesday, Ethereum founder Vitalik Buterin praised Celo’s progress on X, which has stoked investor interest in the CELO token. At the time of writing, the cryptocurrency was trading at 63 cents, representing a gain of nearly 20% on a 24-hour basis, according to CoinDesk data.
