DDD over time

Stablecoin market cap as a share of US M2, monthly from January 2017.

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Gathering the timeline anchors that explain where the ratio accelerated, stalled, or reset.

Stablecoin data: DeFi Llama · M2 data: Federal Reserve (FRED M2SL)

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One email a week. What moved the ratio, which currencies showed up onchain, which chains grew, and which issuers gained ground.