@Lorenzo Protocol #LorenzoProtocol $BANK Demand is still driven mainly by crypto trading and collateral needs across derivatives and decentralized finance (DeFi), with derivatives venues adding about $20 billion in stablecoin holdings alongside a surge in perpetual futures activity, the report said.

"The vast majority of stablecoin demand stems from their use as cash or collateral in the crypto ecosystem to facilitate crypto trading including derivatives trading, DeFi lending and borrowing," wrote analysts led by Nikolaos Panigirtzoglou, i