🚀 Financial giants are also starting to play with stablecoins💸, Fidelity has launched FIDD!
Managing $59 trillion in assets, Fidelity has finally joined the #defi game, placing its own stablecoin on #ETH ⚡. ETH now accounts for 56% of the stablecoin market, and with #FIDD coming in, on-chain liquidity, trading volume, and fees are expected to surge📈.
Whales are also taking action: some have accumulated 29,665 ETH at once, while others are staking on a large scale, with Bitfinex long positions hitting a seven-month high🔥. As more stablecoins flood in, the supply of ETH may tighten further, and trading volume is expected to hit an all-time high.
In summary: Fidelity is betting on Ethereum, not just for speculation, but to strengthen ETH's long-term technological advantages with the power of DeFi💪.