Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Stablecoins dominated crypto trading in Q1 as investors sought safety, according to CEX.io, Coinbase legal chief Paul Grewal says US lawmakers are nearing agreement on the CLARITY Act, and Alabama has followed Wyoming in enacting a bill granting decentralized autonomous organizations (DAOs) legal status.
Stablecoins were a rare bright spot in an otherwise subdued crypto market in the first quarter, with supply growth and transaction activity pointing to sustained demand even as broader market conditions weakened.
Total stablecoin supply increased by roughly $8 billion to a record $315 billion in Q1, according to data from CEX.IO. Although this marked the slowest pace of expansion since Q4 of 2023, it still represented growth during a period when the wider crypto market contracted.
