The total supply of stablecoins issued on Linea jumped by over $50 million in two weeks as the network gears up for its native token launch.
The stablecoin supply on Consensys-backed Linea, an Ethereum Layer 2 network, reached a new all-time high at $74.5 million last week as the network prepares for its token launch and airdrop.
According to DefiLlama data, USDC makes up over 75% of the market at $56 million. The increase comes alongside higher trading activity on Linea-based decentralized exchange Etherex, the largest protocol on Linea with over $150 million in total value locked (TVL).
Daily DEX volumes also climbed to about $100 million during the stablecoin inflows, but fell back to an average of $10 million since then.
Linea now ranks 34th among blockchains by stablecoin supply, placing ahead of StarkNet, Algorand, and Tezos, but still behind Blast, Polkadot, and Hedera.
Behind the Numbers
The growth comes as MetaMask, also backed by Consensys, prepares to launch a dollar-pegged stablecoin — called mUSD — on Ethereum and Linea, with support from Stripe’s Bridge for payment infrastructure.
Earlier in August, Linea revealed details of its tokenomics. The network set the total supply at 72 billion LINEA tokens, with 9% allocated to early users through an airdrop fully unlocked at token generation.
Around 22% of the supply is scheduled to circulate at launch. Consensys holds 15% of tokens under a five-year lock-up. A share of transaction fees will be directed toward token buybacks and burns, while a portion of ETH fees will also be removed from circulation.
Source: https://thedefiant.io/news/blockchains/stablecoin-supply-on-linea-hits-all-time-high-amid-airdrop-speculation
